Minnesota Independent Insurance Agents & Brokers
- Assets
- $1.5m
- Revenue
- $1.5m
- Investments
- $22.0k
- Employees
- 0
- Location
- Minnetonka, MN
- Founding
- Data as of
- 08/2021
- EIN
- 41-1757272
Organization Overview
Minnesota Independent Insurance Agents & Brokers is located in Minnetonka, MN. Minnesota Independent Insurance Agents & Brokers 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, Minnesota Independent Insurance Agents & Brokers generated $1.5m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $1.5m during the year ending 08/2021. As we would expect to see with falling revenues, expenses have declined by (0.1%) 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
TO PROVIDE EDUCATIONAL SEMINARS, LOBBYING ON BEHALF OF THE INDUSTRY, INDUSTRY RELATED PERIODICALS, AND GENERAL COUNCIL SERVICES.THE OBJECTIVES OF THE ORGANIZATION ARE: TO PROMOTE AND MAINTAIN HIGH STANDARDS OF PROFESSIONAL COMPETENCE AMONG MEMBERS, TO PROMOTE PUBLIC UNDERSTANDING OF THE PROFESSION AND CREATE A FAVORABLE ENVIRONMENT, AND PROVIDE MEMBERS WITH SERVICES AND BENEFITS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MIIA SERVED OVER 3500 MEMBERS DURING FISCAL YEAR 2020-2021. NUMEROUS EDUCATIONAL SEMINARS WERE OFFERED TO MEMBERS ALONG WITH VARIOUS FUNCTIONAL EVENTS THROUGHOUT THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shawn Flavin President Elect | OfficerTrustee | 0 | $0 |
Chad Ostermann President | OfficerTrustee | 0 | $0 |
Jay Nesbit Vice President | OfficerTrustee | 0 | $0 |
Hal Tiffany Jr Past President | OfficerTrustee | 0 | $0 |
Dan Riley Executive Vice President | OfficerTrustee | 0 | $0 |
Chad Bjugan State National Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $589,429 |
| 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 | $589,429 |
| Total Program Service Revenue | $897,756 |
| Investment income | $0 |
| 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 | $1,487,185 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $788,822 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $73,079 |
| 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 | $4,174 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $16 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $124,084 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,979 |
| All other expenses | $796 |
| Total functional expenses | $1,513,090 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $448,844 |
| Savings and temporary cash investments | $3,801 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,972 |
| 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 | $45,571 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $21,991 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,008,643 |
| Total assets | $1,530,822 |
| Accounts payable and accrued expenses | $50,182 |
| 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 | $407,290 |
| Total liabilities | $457,472 |
| Net assets without donor restrictions | $1,073,350 |
| 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 | $1,530,822 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Minnesota Independent Insurance Agents & Brokers has recieved totaling $113,496.
| Awarding Organization | Amount |
|---|---|
Trusted Choice Inc Alexandria, VA PURPOSE: ADVERTISING & RECRUITING | $37,832 |
Trusted Choice Inc Alexandria, VA PURPOSE: ADVERTISING & RECRUITING | $37,832 |
Trusted Choice Inc Alexandria, VA PURPOSE: ADVERTISING & RECRUITING | $37,832 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Chinese American Service League Inc Chicago, IL | $15,835,299 | $20,315,146 |
Sholom Home East Inc St Paul, MN | $55,805,227 | $20,264,604 |
Dow Rummel Village Sioux Falls, SD | $76,421,386 | $18,523,416 |
Nebraska Student Loan Program Inc Lincoln, NE | $230,624,169 | $45,453,979 |
Botsford Continuing Care Corporation Southfield, MI | $28,554,348 | $16,692,642 |
American Association Of Orthopaedic Surgeons Of America Rosemont, IL | $21,165,468 | $24,653,127 |
Blackburn University Carlinville, IL | $69,417,787 | $20,572,819 |
Montgomery Place Chicago, IL | $31,885,880 | $16,111,662 |
Region 3b Area Agency On Aging Battle Creek, MI | $12,282,051 | $21,229,876 |
Southwest Counseling Solutions Inc Detroit, MI | $10,435,524 | $23,926,279 |
Human Resources Development Institute Inc Chicago, IL | $14,371,854 | $24,270,043 |
Duluth Regional Care Center Inc Duluth, MN | $17,149,445 | $20,614,667 |