Joint Insurance Association
- Assets
- $1.8m
- Revenue
- $801.9k
- Investments
- $0.0
- Employees
- 6
- Location
- Ellicott City, MD
- Founding
- 08/1974
- Data as of
- 09/2023
- EIN
- 52-0983562
Organization Overview
Joint Insurance Association is located in Ellicott City, MD. The organization was established in 1974. According to its NTEE Classification (Y01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 09/2023, Joint Insurance Association employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Joint Insurance Association 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 09/2023, Joint Insurance Association generated $801.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (6.2%) each year. All expenses for the organization totaled $1.4m during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (2.8%) per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING PROPERTY INSURANCE PER MARYLAND STATE LAW.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MARYLAND JOINT INSURANCE ASSOCIATION WAS FORMED IN 1968 TO PROVIDE CERTAIN PROPERTY AND CASUALTY INSURANCE TO APPLICANTS IN THE STATE OF MARYLAND. FOR THE YEAR ENDED 9/30/23, JOINT INSURANCE ASSOCIATION HAD 634 POLICIES IN-FORCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Todd Rush Governing Committee | Trustee | 1 | $0 |
Patrick Mcdonough Governing Committee | Trustee | 1 | $0 |
Frank Folger Governing Committee | Trustee | 1 | $0 |
Steven Linkous Governing Committee | Trustee | 1 | $0 |
Michael Hernandez Governing Committee | Trustee | 1 | $0 |
George Dioguardo Governing Committee | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $629,354 |
| 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 | $801,886 |
| 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. | $199,741 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $274,853 |
| Pension plan accruals and contributions | $133,744 |
| Other employee benefits | $145,593 |
| Payroll taxes | $34,570 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $36,315 |
| 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 | $226,936 |
| Advertising and promotion | $0 |
| Office expenses | $15,629 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $57,999 |
| Travel | $22,617 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,464 |
| Insurance | $885 |
| All other expenses | $49,839 |
| Total functional expenses | $1,424,962 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,767,777 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $69,374 |
| 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 | $1,837,151 |
| Accounts payable and accrued expenses | $0 |
| 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 | $1,495,958 |
| Total liabilities | $1,495,958 |
| 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 | $341,193 |
| Total liabilities and net assets/fund balances | $1,837,151 |
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|---|---|---|
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