Independent Insurance Agents And Brokers Of Louisiana Inc
- Assets
- $10.0m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 8
- Location
- Baton Rouge, LA
- Founding
- 03/1936
- Data as of
- 06/2022
- EIN
- 72-0373619
Organization Overview
Independent Insurance Agents And Brokers Of Louisiana Inc is located in Baton Rouge, LA. The organization was established in 1936. According to its NTEE Classification (Y03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 06/2022, Independent Insurance Agents And Brokers Of Louisiana Inc employed 8 individuals. This organization is the central organization for a national or regional group of organizations. Independent Insurance Agents And Brokers Of Louisiana Inc 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 06/2022, Independent Insurance Agents And Brokers Of Louisiana Inc generated $1.8m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $1.5m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (3.0%) 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
THE MISSION OF THE INDEPENDENT INSURANCE AGENTS & BROKERS OF LOUISIANA, WORKING IN THE PUBLIC INTEREST, IS TO BE THE UNRELENTING ADVOCATE FOR INDEPENDENT INSURANCE AGENTS AND TO MEET THE EDUCATION, POLITICAL, AND BUSINESS NEEDS OF IIABL MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL CONVENTION, CONFERENCES, AND EDUCATIONAL SERVICES WHICH PROVIDE MEMBER INSURANCE AGENCIES WITH THE TRAINING THEY NEED TO OPERATE THEIR BUSINESSES AND IMPROVE THE PROFESSIONALISM OF THEIR STAFF.
WEBSITE RESOURCES, NEWSLETTERS, TECHNICAL ADVISORIES AND OTHER INFORMATION PUBLICATIONS NECESSARY FOR THE PROPER OPERATION AND MANAGEMENT OF MEMBER INSURANCE AGENCIES.
REPRESENTATION OF MEMBER INSURANCE AGENCIES WITH LEGISLATIVE, REGULATORY, INDUSTRY AND CONSUMER GROUPS ON VARIOUS MATTERS OF INTEREST AND BENEFIT TO MEMBERS.
EDUCATIONAL PROGRAMS-TO PROVIDE MEMBER AGENTS WITH EDUCATIONAL TRAINING AND INFORMATION TO FURTHER PROMOTE THEIR INTERNAL MANAGEMENT AND PROFITABILITY IN THE INDUSTRY AND IMPROVE PROFESSIONALISM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Albright Chief Executive Officer | Officer | 40 | $160,638 |
Ben Albright Vice President | Officer | 40 | $69,690 |
John L Beckmann III State National Director | OfficerTrustee | 1 | $0 |
Ross Henry Executive Committee Member | OfficerTrustee | 1 | $0 |
Armond Schwing CIC Secretary-Treasurer | OfficerTrustee | 1 | $0 |
Donelson Stiel President | 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 | $941,214 |
| Investment income | $118,697 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $432,033 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $258,985 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,762,629 |
| 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. | $257,664 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $228,931 |
| Pension plan accruals and contributions | $51,935 |
| Other employee benefits | $38,874 |
| Payroll taxes | $30,512 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $48,151 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $6,792 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $27,927 |
| Travel | $93,169 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $214,570 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $60,715 |
| Insurance | $49,878 |
| All other expenses | $78,415 |
| Total functional expenses | $1,520,209 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$31,708 |
| Savings and temporary cash investments | $976,233 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,348 |
| 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 | $89,876 |
| Net Land, buildings, and equipment | $903,561 |
| Investments—publicly traded securities | $7,490,097 |
| Investments—other securities | $0 |
| Investments—program-related | $508,493 |
| Intangible assets | $0 |
| Other assets | $17,233 |
| Total assets | $9,967,133 |
| Accounts payable and accrued expenses | $292,211 |
| 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 | $891,080 |
| Total liabilities | $1,183,291 |
| Net assets without donor restrictions | $8,783,842 |
| 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 | $9,967,133 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Independent Insurance Agents And Brokers Of Louisiana Inc has recieved totaling $32,500.
| Awarding Organization | Amount |
|---|---|
Trusted Choice Inc Alexandria, VA PURPOSE: ADVERTISING & RECRUITING | $32,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Property Insurance Association Of Louisiana Metairie, LA | $13,528,634 | $6,013,264 |
Independent Insurance Agents Of Texas Austin, TX | $16,269,345 | $3,665,225 |
Society Of Certified Insurance Service Representatives Inc Austin, TX | $3,983,502 | $3,156,813 |
American Securities Association Dallas, TX | $782,054 | $1,666,002 |
Independent Insurance Agents And Brokers Of Louisiana Inc Baton Rouge, LA | $9,967,133 | $1,762,629 |
Towing Vessel Inspection Bureau Channelview, TX | $576,720 | $901,588 |
High Plains Retreat Center Canyon, TX | $2,132,312 | $562,156 |
Building Industry Association Of The Highland Lakes Marble Falls, TX | $238,469 | $208,667 |
Texas Association Of Benefit Administrators Plano, TX | $78,280 | $122,254 |
Historic District Business Association Inc Natchitoches, LA | $806,341 | $264,233 |
Risk & Insurance Management Society Houston, TX | $152,111 | $0 |
American Rainwater Catchment Systems Association Flower Mound, TX | $135,449 | $0 |