Independent Insurance Agents Of Iowa
- Assets
- $7.9m
- Revenue
- $2.0m
- Investments
- $432.3k
- Employees
- 4
- Location
- West Des Moines, IA
- Founding
- 05/1945
- Data as of
- 08/2022
- EIN
- 42-0650404
Organization Overview
Independent Insurance Agents Of Iowa is located in West Des Moines, IA. The organization was established in 1945. 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 08/2022, Independent Insurance Agents Of Iowa employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Independent Insurance Agents Of Iowa 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 08/2022, Independent Insurance Agents Of Iowa generated $2.0m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.1%) each year. All expenses for the organization totaled $1.3m during the year ending 08/2022. As we would expect to see with falling revenues, expenses have declined by (2.0%) 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
MEMBERSHIP ASSOCIATION FOR INDEPENDENT INSURANCE AGENTS DOING BUSINESS IN THE STATE OF IOWA
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION, ADVOCACY AND OTHER GENERAL SERVICES TO INDEPENDENT INSURANCE AGENCIES DOING BUSINESS IN THE STATE OF IOWA. APPROXIMATELY 549 MEMBER AGENCIES AT YEAR END.
THE ASSOCIATION HOSTS THE ANNUAL MEETING AND CONVENTION FOR ITS MEMBERSHIP EACH YEAR. THE CONVENTION PROVIDES DEVELOPMENT PROGRAMS IN ADDITION TO PROVIDING OPPORTUNITIES FOR NETWORKING AND SHARING OF IDEAS AMONG PEERS.
THE ASSOCIATION COORDINATES SEMINARS, WORKSHOPS AND CONFERENCES PROVIDING FOR DEVELOPMENT AND LEARNING OPPORTUNITIES FOR INSURANCE AGENTS DOING BUSINESS IN IOWA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom O'meara CEO | Officer | 48 | $252,946 |
David Rowley President | OfficerTrustee | 3 | $0 |
Eldon Hunsicker National Dir | OfficerTrustee | 3 | $0 |
Luke Horak Treasurer | OfficerTrustee | 1 | $0 |
Steve Madsen Past Preside | OfficerTrustee | 1 | $0 |
Scott Wirtz Vice Preside | OfficerTrustee | 1 | $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 | $1,124,047 |
| Investment income | $421,876 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $182,928 |
| Net Rental Income | $17,430 |
| Net Gain/Loss on Asset Sales | -$4,099 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $10,726 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,959,343 |
| 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. | $307,568 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $187,236 |
| Pension plan accruals and contributions | $18,038 |
| Other employee benefits | $35,714 |
| Payroll taxes | $27,179 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $968 |
| Fees for services: Accounting | $34,165 |
| Fees for services: Lobbying | $36,560 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $22,771 |
| Fees for services: Other | $4,542 |
| Advertising and promotion | $8,792 |
| Office expenses | $29,245 |
| Information technology | $22,484 |
| Royalties | $0 |
| Occupancy | $38,778 |
| Travel | $11,971 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $281,289 |
| Interest | $0 |
| Payments to affiliates | $226,203 |
| Depreciation, depletion, and amortization | $16,634 |
| Insurance | $11,004 |
| All other expenses | $566 |
| Total functional expenses | $1,349,964 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $444,969 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $46,356 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,345 |
| Prepaid expenses and deferred charges | $3,780 |
| Net Land, buildings, and equipment | $397,362 |
| Investments—publicly traded securities | $6,551,672 |
| Investments—other securities | $432,259 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,880,743 |
| Accounts payable and accrued expenses | $124,095 |
| Grants payable | $0 |
| Deferred revenue | $18,389 |
| 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 | $142,484 |
| Net assets without donor restrictions | $7,738,259 |
| 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 | $7,880,743 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Independent Insurance Agents Of Iowa has recieved totaling $5,833.
| Awarding Organization | Amount |
|---|---|
Trusted Choice Inc Alexandria, VA PURPOSE: ADVERTISING & RECRUITING | $5,833 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Learfield Communications Group Benefit Trust Inc Jefferson City, MO | $2,893,573 | $17,688,532 |
St Anthony's Med Cnt Prof & Gen Liab Milwaukee, WI | $0 | $2,384,132 |
Illinois Insurance Guaranty Fund Chicago, IL | $161,417,885 | $26,320,531 |
Healthalliance Benefit Plan Urbandale, IA | $4,354,956 | $14,851,406 |
Clara Abbott Foundation Abbott Park, IL | $224,191,754 | $3,270,470 |
Twin City Sprinkler Fitters Health Care Plan Minneapolis, MN | $17,391,884 | $12,071,213 |
Katten Muchin Rosenman Llp Employees Welfare Benefit Plan Tr Chicago, IL | $4,093,448 | $12,724,208 |
Nonprofit Insurance Trust Lakeville, MN | $40,064,568 | $18,458,548 |
Komatsu America Corp Retiree Welfare Noncollectively Bargained Chicago, IL | $37,989,668 | $6,516,658 |
Buddig Employees Welfare Benefit Plan And Trust Homewood, IL | $1,411,169 | $11,307,142 |
Childrens Memorial Hospital Self Chicago, IL | $135,161,013 | $17,731,725 |
Evergy Inc Kansas City, MO | $82,354,163 | $13,097,270 |