The Wsia Education Foundation
- Assets
- $14.9m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Kansas City, MO
- Founding
- 08/1992
- Data as of
- 12/2021
- EIN
- 43-1601552
Organization Overview
The Wsia Education Foundation is located in Kansas City, MO. The organization was established in 1992. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wsia Education Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Wsia Education Foundation generated $1.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.7% each year . All expenses for the organization totaled $1.6m during the year ending 12/2021. While expenses have increased by 22.3% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.THE WSIA EDUCATION FOUNDATION SUPPORTS THE WSIA EDUCATION PROGRAMS; CHAMPIONS THE ASSOCIATE IN SURPLUS LINES INSURANCE (ASLI) DESIGNATION PROGRAM; SUPPORTS THE AM BEST COMPANY'S ANNUAL REVIEW OF THE SURPLUS LINES SEGMENT; ADMINISTERS STUDENT-FOCUSED EDUCATIONAL PROGRAMS, SYMPOSIUMS, AND SCHOLARSHIPS; AND ATTRACTS NEW TALENT TO THE INDUSTRY THROUGH UNIVERSITY OUTREACH IN COLLABORATION WITH WSIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION UNDERWRITES THE RESEARCH AND PUBLICATION OF THE ANNUAL REVIEW ON THE SURPLUS LINES INDUSTRY. THE FIRST EDITION WAS RELEASED IN THE FALL OF 1994 AND A NEW EDITION IS RELEASED EACH YEAR. THIS PUBLICATION HAS BECOME THE MOST QUOTED SOURCE ON SURPLUS LINES INSURANCE AND PROVIDES A GREAT DEAL OF POSITIVE INSIGHTFUL INFORMATION ABOUT THIS SEGMENT OF THE INSURANCE INDUSTRY. IN ADDITION, THE ORGANIZATION PROVIDES A GRANT FOR THE ANNUAL AM BEST WEBINAR THAT IS CONDUCTED EACH FALL WHICH INCLUDES A PANEL OF INDUSTRY LEADERS IN THE SURPLUS LINES SECTOR OF THE U.S. INSURANCE MARKET. THE PANEL REVIEWS THE MARKET AND PROVIDES A HIGHLIGHT OF THE NEWEST EDITION OF THE REPORT.
THE ORGANIZATION SPONSORS 5 COLLEGE EXTREME RISK TAKERS SYMPOSIUMS EACH YEAR AT VARIOUS GEOGRAPHICAL LOCATIONS. THE ORGANIZATION IS ALSO A SUSTAINING PARTNER FOR THE GAMMA IOTA SIGMA, AN INTERNATIONAL RISK MANAGEMENT INSURANCE AND ACTUARIAL SCIENCE COLLEGIATE FRATERNITY, THAT SERVES OVER 4,000 STUDENT MEMBERS AND FACULTY FROM 76 CHAPTERS BY PROVIDING PROFESSIONAL DEVELOPMENT AND EDUCATIONAL OPPORTUNITIES. THE ORGANIZATION HAS ALSO PLEDGED $1 MILLION TO THE WSIA DIVERSITY FOUNDATION, THE CHARITABLE FOUNDATION FOR THE WHOLESALE, SPECIALTY, AND SURPLUS LINES INDUSTRY WHOSE SOLE PURPOSE IS TO PROMOTE DIVERSITY IN THE AREAS OF RACE, GENDER, SEXUAL ORIENTATION, DISABILITY, ETC., ATTRACT DIVERSE TALENT, AND INFLUENCE MEANINGFUL PROGRESS IN THE DIVERSITY OF THE WSIA MEMBERSHIP AND ITS TALENT PIPELINE.
THE ORGANIZATION SUPPORTS THE ASSOCIATE IN SURPLUS LINES (ASLI) DESIGNATION PROGRAM THAT WAS DEVELOPED IN CONJUNCTION WITH THE INSTITUTES AND PROVIDES A PROFESSIONAL DESIGNATION FOR INSURANCE PROFESSIONALS IN THE WHOLESALE, SPECIALTY AND SURPLUS LINES INDUSTRY. ADDITIONALLY, THE ORGANIZATION SUPPORTS THE UNDERWRITING BOOT CAMP AND WSIA UNIVERSITY EDUCATION PROGRAMS THAT PROVIDE WSIA MEMBERS AN OPPORTUNITY TO CONTINUE THEIR EDUCATION AND EXPAND THEIR KNOWLEDGE OF THE WHOLESALE, SPECIALTY AND SURPLUS LINES MARKET.
THE ORGANIZATION PROVIDES 46 SCHOLARSHIPS FOR COLLEGE AND UNIVERSITY STUDENTS TO ENCOURAGE, SUPPORT AND REWARD EXCEPTIONAL STUDENTS WHO ARE STUDYING RISK MANAGEMENT AND INSURANCE AND EXPRESS AN INTEREST IN THE SURPLUS LINES INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brady R Kelley Secretary | Officer | 2 | $0 |
Brian Van Cleave President | Officer | 2 | $0 |
Nick Abraham Vice President | Officer | 2 | $0 |
Michael D Miller Treasurer | Officer | 2 | $0 |
David Nelson Director | Trustee | 1 | $0 |
Maureen Caviston Director | Trustee | 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 | $451,085 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $451,085 |
| Total Program Service Revenue | $133,145 |
| Investment income | $435,826 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$5,083 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,014,973 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,000,000 |
| Grants and other assistance to domestic individuals. | $115,000 |
| 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 | $804 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,339 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $50,398 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $671 |
| 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 | $4,610 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $12,698 |
| All other expenses | $0 |
| Total functional expenses | $1,620,194 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $83,959 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $24,968 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $14,775,419 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $14,884,346 |
| Accounts payable and accrued expenses | $53,530 |
| Grants payable | $0 |
| Deferred revenue | $8,000 |
| 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 | $850,000 |
| Total liabilities | $911,530 |
| Net assets without donor restrictions | $11,887,304 |
| Net assets with donor restrictions | $2,085,512 |
| 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 | $14,884,346 |
Grants Awarded
Over the last fiscal year, The Wsia Education Foundation has awarded $75,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Powell, OH PURPOSE: Educational Grant | $50,000 |
UNIVERSITY OF SOUTH CAROLINA PURPOSE: Educational Grant | $15,000 |
TEMPLE UNIVERSITY PURPOSE: Educational Grant | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that The Wsia Education Foundation has recieved totaling $40,000.
| Awarding Organization | Amount |
|---|---|
The Surplus Lines Association Of North Carolina Raleigh, NC PURPOSE: PROGRAM AND SCHOLARSHIP SUPPORT | $25,000 |
Kemper Educational & Charitable Fund Winnetka, IL PURPOSE: PROGRAM SUPPORT | $15,000 |
Endowment Analysis
| Beg. Balance | $530,844 |
| Earnings | $10,041 |
| Other Expense | $2,500 |
| Ending Balance | $538,385 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Signatry Charitable Trust Overland Park, KS | $81,194,986 | $73,628,321 |
Kirkpatrick Family Affiliated Fund Ok City Community Foundation Inc Oklahoma City, OK | $324,040,869 | $11,766,230 |
Bloomington-Normal Ymca Charitable Foundation Nfp Bloomington, IL | $12,002,532 | $7,012,515 |
Moose Foundation Inc Mooseheart, IL | $261,014,797 | $19,670,612 |
Jewish Federation Of Omaha Foundation Omaha, NE | $124,451,193 | $16,233,916 |
Bokf Foundation Tulsa, OK | $18,840,585 | $10,529,453 |
Upic Solutions Inc Fort Mitchell, KY | $2,371,554 | $6,046,013 |
Glasser And Rosenthal Family Foundation Chicago, IL | $0 | $604,291 |
Ted And Drama Russell Family Foundation Knoxville, TN | $97,704,141 | $6,828,732 |
Menorah Heritage Foundation Overland Park, KS | $63,841,650 | $6,880,608 |
Real Estate Charitable Foundation Kansas City, MO | $43,935,265 | $4,204,580 |
Barbara Mettler Personal Tr Champaign, IL | $0 | $38,620 |