The Surplus Lines Association Of North Carolina

Organization Overview

The Surplus Lines Association Of North Carolina is located in Raleigh, NC. The organization was established in 1988. According to its NTEE Classification (S03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Surplus Lines Association Of North Carolina employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Surplus Lines Association Of North Carolina 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, Surplus Lines Association Of North Carolina generated $5.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 28.3% each year . All expenses for the organization totaled $2.6m during the year ending 12/2021. While expenses have increased by 28.0% 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.

Since 2015, Surplus Lines Association Of North Carolina has awarded 20 individual grants totaling $3,789,578. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO PROMOTE SURPLUS LINES INSURANCE TO PROFESSIONALS AND ASPIRING STUDENTS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

STAMPING SERVICES - THE ASSOCIATION PROCESSES SURPLUS LINES NEW POLICIES, RENEWALS AND ENDORSEMENTS PAYMENTS OF RELATED TAXES, ON BEHALF OF THE NORTH CAROLINA DEPARTMENT OF INSURANCE.


EDUCATION AND SEMINARS - THE ASSOCIATION PROVIDES SCHOLARSHIPS AND SPONSORSHIPS TO STUDENTS ACROSS THE STATE IN PROGRAMS RELATED TO THE INDUSTRY. ADDITIONALLY, THE ASSOCIATION HOSTS AN INSURANCE "JEOPARDY" COMPETITION FOR TEAMS FROM VARIOUS UNIVERSITIES.


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Board, Officers & Key Employees

Name (title)Compensation
Steve Allen
Executive Director
$170,775
Geoff Allen
Chief Operating Officer
$137,308
Adam Pierce
President
$0
Ross Gravely
Treasurer
$0
Kathy Mcvaney
Vice President
$0
Dan Baugh
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$111,450
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$111,450
Total Program Service Revenue$5,122,282
Investment income $121,644
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$32,050
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $5,323,982

Grants Awarded

Over the last fiscal year, The Surplus Lines Association Of North Carolina has awarded $1,692,600 in support to 4 organizations.

Grant RecipientAmount

APPALACHIAN STATE UNIVERSITY

PURPOSE: ENDOWMENT, SPONSORSHIP & STUDY PROGRAM

$667,600

EAST CAROLINA UNIVERSITY

PURPOSE: ENDOWMENT & SPONSORSHIP

$500,000

UNC CHARLOTTE

PURPOSE: ENDOWMENT & SPONSORSHIP

$500,000

WSIA EDUCATION FOUNDATION

Org PageRecipient Profile

Kansas City, MO

PURPOSE: PROGRAM AND SCHOLARSHIP SUPPORT

$25,000
View Grant Profile

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