Legionaire Insurance Trust
- Assets
- $5.4m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Carpinteria, CA
- Founding
- 12/1973
- Data as of
- 12/2021
- EIN
- 23-7336165
Organization Overview
Legionaire Insurance Trust is located in Carpinteria, CA. The organization was established in 1973. 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. Legionaire Insurance Trust is a 501(c)(19) and as such, is described as a "Post or Organization of Past or Present Members of the Armed Forces" by the IRS.
For the year ending 12/2021, Legionaire Insurance Trust generated $1.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (11.3%) each year. All expenses for the organization totaled $1.9m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.4%) per year over the past 7 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
THE LEGIONNAIRE INSURANCE TRUST'S PRIMARY EXEMPT PURPOSE IS TO OFFER PARTICIPATING AMERICAN LEGION MEMBERS THE OPPORTUNITY TO OBTAIN HIGH-QUALITY DEPARTMENT ENDORSED INSURANCE PRODUCTS AT RATES THAT REFLECT THE MASSIVE GROUP BUYING POWER OF THE LEGION DEPARTMENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALLOCATION TO DEPARTMENTS OF THE AMERICAN LEGION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hugh Dagley Vice Chairman | Trustee | 2 | $0 |
Braxton Bridgers Chairman | Trustee | 2 | $0 |
Steven Aguirre Sr Director | Trustee | 2 | $0 |
Silas Noel Director | Trustee | 2 | $0 |
Bob Renner Director | Trustee | 2 | $0 |
Pat Smith Director | Trustee | 2 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,746,999 |
| Investment income | $11,207 |
| 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 | $1,758,206 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,770,333 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $93,231 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $36,013 |
| All other expenses | $0 |
| Total functional expenses | $1,907,882 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,597,560 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,753,623 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,351,183 |
| Accounts payable and accrued expenses | $99,483 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $99,483 |
| Net assets without donor restrictions | $0 |
| 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 | $5,251,700 |
| Total liabilities and net assets/fund balances | $5,351,183 |
Grants Awarded
Over the last fiscal year, Legionaire Insurance Trust has awarded $1,890,634 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN LEGION BY STATE DEPARTMENT PURPOSE: TO FUND STATE DEPARTMENTS OF THE AMERICAN LEGION. | $1,890,634 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dignity Health Hosp & Professional Liability Self-Insurance Trust San Francisco, CA | $0 | $32,275,072 |
Utah Pipe Trades Welfare Trust Fund Pleasanton, CA | $24,940,306 | $17,163,997 |
Oregon Processors Employees Trust Portland, OR | $10,788,893 | $16,907,062 |
Self Insurers Security Fund Oakland, CA | $783,094,519 | $73,239,633 |
Siu-Pd-Pma Supplemental Benefit Fund Inc San Francisco, CA | $6,680,887 | $15,032,337 |
Hawaii Electricians Vacation And Holiday Fund Honolulu, HI | $17,937,748 | $15,016,835 |
Tang Industries Inc Employees Welfare Plan And Trust Las Vegas, NV | $109,080 | $13,704,582 |
Worldatwork Scottsdale, AZ | $26,461,650 | $14,061,947 |
Ilwu Warehouse Welfare Trust Pleasanton, CA | $5,779,228 | $12,353,486 |
Bricklayers And Allied Craftworkers Local No 3 Health And Welfare Plan Pleasanton, CA | $17,912,159 | $11,059,830 |
The Act 1 Group Of Companies Veba Trust Glendale, CA | $0 | $11,426,844 |
Associated Produce Dealers & Brks Of La Emplys Ins Tr Los Angeles, CA | $903,297 | $10,694,883 |