Professional Insurance Agents Association Of Virginia & Dc
- Assets
- $159.5k
- Revenue
- $932.7k
- Investments
- $0.0
- Employees
- 6
- Location
- Glen Allen, VA
- Founding
- 09/1964
- Data as of
- 12/2021
- EIN
- 54-6039747
Organization Overview
Professional Insurance Agents Association Of Virginia & Dc is located in Glen Allen, VA. The organization was established in 1964. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Professional Insurance Agents Association Of Virginia & DC employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Professional Insurance Agents Association Of Virginia & DC 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 12/2021, Professional Insurance Agents Association Of Virginia & DC generated $932.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $891.4k during the year ending 12/2021. While expenses have increased by 0.3% 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
EDUCATION OF INSURANCE PROFESSIONALS
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL COURSES - EDUCATIONAL PROGRAMS & SEMINARS ARE HELD THROUGHOUT VIRGINIA & DC TO EDUCATE INSURANCE PROFESSIONALS AND TO STIMULATE INTEREST IN INSURANCE ISSUES.
CONVENTIONS - CONVENTIONS ARE HELD TO EDUCATE INSURANCE PROFESSIONALS AS WELL AS MAINTAIN THEIR HIGH STANDARDS IN DEALING WITH CLIENTS.
ADMINISTRATIVE FEES AND OTHER PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin P Kowar Association Executive | Officer | 40 | $115,158 |
Me Sanford III Immediate Past President | OfficerTrustee | 1 | $0 |
Carla Jean Marks President | OfficerTrustee | 1 | $0 |
Joshua T Sojda First Vice President | OfficerTrustee | 1 | $0 |
John Potthast Secretary/treasurer | OfficerTrustee | 1 | $0 |
Linda Walker Second Vice President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $133,782 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,006 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $144,788 |
| Total Program Service Revenue | $712,422 |
| Investment income | $3,530 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $57,215 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $932,742 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $11,006 |
| 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. | $133,826 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $256,148 |
| Pension plan accruals and contributions | $8,077 |
| Other employee benefits | $8,764 |
| Payroll taxes | $28,425 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,197 |
| Fees for services: Lobbying | $363 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $7,442 |
| Information technology | $27,273 |
| Royalties | $0 |
| Occupancy | $37,364 |
| Travel | $1,405 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $299,941 |
| Interest | $246 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,340 |
| Insurance | $5,380 |
| All other expenses | $3,712 |
| Total functional expenses | $891,375 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,560 |
| Savings and temporary cash investments | $67,572 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,987 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $39,709 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,208 |
| Net Land, buildings, and equipment | $4,873 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,594 |
| Total assets | $159,503 |
| Accounts payable and accrued expenses | $38,132 |
| Grants payable | $0 |
| Deferred revenue | $85,108 |
| 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 | $966 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $137,575 |
| Total liabilities | $261,781 |
| Net assets without donor restrictions | -$102,278 |
| 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 | $159,503 |
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