Form 990 for tax year 2023
Filed by NATIONAL ASSOCIATION OF MUTUAL INSURANCE COMPANIES.
Totals
- Total revenue
- $22,628,366
- Total expenses
- $22,089,112
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $22,377,993
- Investment income
- $172,580
- Other revenue
- $77,793
- Total assets, end of year
- $24,043,020
- Total liabilities, end of year
- $5,410,267
- Net assets or fund balances, end of year
- $18,632,753
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- not reported
Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
2a · Program service revenue: MEMBERSHIP DUES
total $14,547,000 · related or exempt $14,547,000
-
2b · Program service revenue: EDUCATIONAL MEETINGS/SEMINARS
total $7,675,893 · related or exempt $7,675,893
-
2c · Program service revenue: PUBLICATIONS
total $155,100 · related or exempt $155,100
-
3 · Investment income
total $171,962 · excluded $171,962
-
7a · Gross sales of assets other than inventory
securities $1,500
-
7b · Less cost or other basis and sales expenses
securities $882
-
7c · Gain or loss
securities $618
-
7d · Net gain or loss
total $618 · excluded $618
-
11a · Other revenue: ADVERTISING INCOME
total $67,750 · unrelated business $67,750
-
11b · Other revenue: MISCELLANEOUS REVENUE
total $10,043 · related or exempt $10,043
-
11e · Other revenue, total
$77,793
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $3,220,017
-
7 · Other salaries and wages
total $7,351,408
-
8 · Pension plan contributions
total $462,889
-
9 · Other employee benefits
total $1,170,561
-
10 · Payroll taxes
total $876,420
-
11b · Fees: legal
total $1,847
-
11c · Fees: accounting
total $47,546
-
11f · Fees: investment management
total $8,266
-
11g · Fees: other
total $976,281
-
12 · Advertising and promotion
total $16,975
-
13 · Office expenses
total $501,320
-
16 · Occupancy
total $1,118,080
-
17 · Travel
total $919,564
-
19 · Conferences, conventions and meetings
total $2,983,285
-
23 · Insurance
total $91,373
-
24a · Other expenses: CONTRIBUTIONS
total $864,310
-
24b · Other expenses: SPEAKER FEES
total $445,073
-
24c · Other expenses: DUES AND REGISTRATIONS
total $405,189
-
24d · Other expenses: SOFTWARE SUBSCRIPTION
total $183,712
-
24e · All other expenses
total $444,996
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $6,189 · end of year $26,510
-
2 · Savings and temporary cash investments
beginning of year $7,055,846 · end of year $3,055,621
-
4 · Accounts receivable
beginning of year $1,310,954 · end of year $2,539,799
-
9 · Prepaid expenses and deferred charges
beginning of year $689,855 · end of year $441,265
-
11 · Investments: publicly traded securities
beginning of year $4,857,922 · end of year $5,012,059
-
12 · Investments: other securities
beginning of year $4,736,258 · end of year $10,776,576
-
15 · Other assets
beginning of year $3,343,744 · end of year $2,191,190
-
17 · Accounts payable and accrued expenses
beginning of year $1,888,564 · end of year $3,127,041
-
19 · Deferred revenue
beginning of year $803,786 · end of year $951,658
-
25 · Other liabilities
beginning of year $1,736,073 · end of year $1,331,568
-
27 · Net assets without donor restrictions
beginning of year $17,572,345 · end of year $18,632,753
Mission and programs · 2023
Mission
NAMIC ORGANIZES AND LEADS ASSOCIATION MEMBER EFFORTS TO IMPROVE THE HEALTH AND PERFORMANCE OF THE PROPERTY CASUALTY INSURANCE THROUGH ITS GOVERNMENT AFFAIRS (ADVOCACY, LOBBYING, ISSUE MANAGEMENT, PUBLIC AFFAIRS, AND FEDERAL AND STATE GRASSROOTS EFFORTS INCLUDING POLITICAL ACTION); EDUCATION/CERTIFICATION (BOARD, EXECUTIVE, MANAGEMENT; TECHNICAL); AND INSURANCE BUSINESS SUPPORT SERVICES (PROFESSIONAL LIABILITY INSURANCE, COMPLIANCE, AND EMPLOYEE BENEFIT PROGRAMS). NAMIC'S EFFORTS ARE DIRECTED THROUGH ITS 501(C)6 PARENT ORGANIZATION AND WITHIN RELATED SUBSIDIARIES AND OTHER ENTITIES AS DESCRIBED HEREIN.
Activities or mission (Part I)
NAMIC IS A PROPERTY-CASUALTY INSURANCE TRADE ASSSOCIATION PROVIDING LEADERSHIP IN ADVOCACY, EDUCATION, AND ASSOCIATION SERVICES.
-
GOVERNMENT AFFAIRS/ADVOCACY - NAMIC LEADS MEMBER EFFORTS IN THIS AREA THROUGH ITS FEDERAL, STATE AND INTERNATIONAL GOVERNMENT AND PUBLIC AFFAIRS ACTIVITY (ISSUE RESEARCH/MANAGEMENT, ADVOCACY, LOBBYING); CONGRESSIONAL CONTACT AND POLITICAL ACTION PROGRAMS, JOINT INDUSTRY OR INDIVIDUAL ADVOCACY PROJECT EFFORTS, ONGOING COMMUNICATION AND EDUCATION ON RELEVANT PUBLIC POLICY ISSUES AND RELATED ENTITY SUPPORT AND OVERSIGHT.
-
EDUCATION AND CERTIFICATION - NAMIC DEVELOPS, ORGANIZES AND CONDUCTS IN- PERSON AND VIRTUAL INDUSTRY/MEMBER EDUCATION AND EVENT PROGRAMS ADDRESSING INSURANCE COMPANY OPERATIONS (UNDERWRITING, CLAIMS, MARKETING), GOVERNANCE, AND GENERAL/EXECUTIVE MANAGEMENT INVOLVING MORE THAN 7,500 PARTICIPANTS ANNUALLY. NAMIC ALSO PROVIDES PROGRAMMING AND ADMINISTRATION OF TWO CERTIFICATION PROGRAMS FOR MEMBER COMPANY BOARDS OF DIRECTORS AND COMPANY MANAGERS INVOLVING MORE THAN 1,200 INDIVIDUALS SEEKING OR HOLDING CERTIFICATIONS. NAMIC PLANS AND MANAGES AN ANNUAL CONVENTION ATTENDED BY MORE THAN 1,500 BUSINESS ATTENDEES AND EXHIBITORS.
-
INSURANCE SUPPORT SERVICES - NAMIC OVERSEES THE DEVELOPMENT AND PRODUCTION OF HIGH VALUE PRODUCTS AND SERVICES TO ITS MEMBERS AND OTHER INSURANCE ENTITIES, INCLUDING PROFESSIONAL LIABILITY INSURANCE (D&O, ICPL, AND FIDELITY); MANAGEMENT SERVICES; LEGISLATION AND COMPLIANCE TRACKING SERVICES; BENCHMARKING; AND BENEFIT PROGRAMS FOR MEMBER COMPANY EMPLOYEES.
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
NEIL ALLDREDGE
PRESIDENT &
- Total calculated
- $1,204,382
- From this org
- $744,027
- From related orgs
- $400,630
- Other
- $59,725
- Hours/week
- 25 + 15 related
Schedule J breakdown matched by us
- Base
- $434,548 + $400,630 related
- Bonus
- $300,348
- Other
- $9,131
- Deferred
- $27,840
- Nontaxable benefits
- $31,885
- Filer's total
- $803,752 + $400,630 related
-
JIMI GRANDE
SVP - FEDERA
- Total calculated
- $571,109
- From this org
- $527,048
- From related orgs
- $0
- Other
- $44,061
- Hours/week
- 39 + 1 related
Schedule J breakdown matched by us
- Base
- $391,303
- Bonus
- $134,914
- Other
- $831
- Deferred
- $20,885
- Nontaxable benefits
- $23,176
- Filer's total
- $571,109
-
MARK VANDER KOOY
CSO
- Total calculated
- $469,063
- From this org
- $319,351
- From related orgs
- $106,450
- Other
- $43,262
- Hours/week
- 29 + 11 related
Schedule J breakdown matched by us
- Base
- $269,071 + $106,450 related
- Bonus
- $48,813
- Other
- $1,467
- Deferred
- $19,777
- Nontaxable benefits
- $23,485
- Filer's total
- $362,613 + $106,450 related
-
GREGG A DYKSTRA
COO & CLO
- Total calculated
- $437,655
- From this org
- $261,542
- From related orgs
- $140,830
- Other
- $35,283
- Hours/week
- 25 + 15 related
Schedule J breakdown matched by us
- Base
- $22,252 + $140,830 related
- Bonus
- $228,061
- Other
- $11,229
- Deferred
- $19,490
- Nontaxable benefits
- $15,793
- Filer's total
- $296,825 + $140,830 related
-
ERIN COLLINS
SVP - STATE
- Total calculated
- $385,377
- From this org
- $346,297
- From related orgs
- $0
- Other
- $39,080
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $279,349
- Bonus
- $66,235
- Other
- $713
- Deferred
- $16,109
- Nontaxable benefits
- $22,971
- Filer's total
- $385,377
-
SARAH SCHNETTLER
SVP - MEMBER
- Total calculated
- $380,556
- From this org
- $339,325
- From related orgs
- $0
- Other
- $41,231
- Hours/week
- 39 + 1 related
Schedule J breakdown matched by us
- Base
- $271,407
- Bonus
- $67,519
- Other
- $399
- Deferred
- $18,055
- Nontaxable benefits
- $23,176
- Filer's total
- $380,556
-
JENNIFER HAMILTON
PRES. & CEO
- Total calculated
- $360,399
- From this org
- $0
- From related orgs
- $338,841
- Other
- $21,558
- Hours/week
- 1.5 + 38.5 related
Schedule J breakdown matched by us
- Base
- not reported + $282,397 related
- Bonus
- not reported + $55,000 related
- Other
- not reported + $1,444 related
- Deferred
- not reported + $13,498 related
- Nontaxable benefits
- not reported + $8,060 related
- Filer's total
- not reported + $360,399 related
-
ANDREW KIRKNER
GENERAL COUN
- Total calculated
- $311,805
- From this org
- $187,189
- From related orgs
- $100,794
- Other
- $23,822
- Hours/week
- 27 + 13 related
Schedule J breakdown matched by us
- Base
- $155,160 + $100,794 related
- Bonus
- $31,686
- Other
- $343
- Deferred
- $15,102
- Nontaxable benefits
- $8,720
- Filer's total
- $211,011 + $100,794 related
-
THOMAS KAROL
GENERAL COUN
- Total calculated
- $249,313
- From this org
- $235,555
- From related orgs
- $0
- Other
- $13,758
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $231,939
- Bonus
- $514
- Other
- $3,102
- Deferred
- $13,098
- Nontaxable benefits
- $660
- Filer's total
- $249,313
-
CRISTA HASSETT
SVP - EVENTS
- Total calculated
- $245,429
- From this org
- $223,757
- From related orgs
- $0
- Other
- $21,672
- Hours/week
- 39 + 1 related
Schedule J breakdown matched by us
- Base
- $200,939
- Bonus
- $22,409
- Other
- $409
- Deferred
- $12,829
- Nontaxable benefits
- $8,843
- Filer's total
- $245,429
-
SHANNON OLLIKAINEN
CHIEF OF STA
- Total calculated
- $177,410
- From this org
- $94,514
- From related orgs
- $50,893
- Other
- $32,003
- Hours/week
- 26 + 14 related
Schedule J breakdown matched by us
- Base
- $80,217 + $50,893 related
- Bonus
- $14,068
- Other
- $229
- Deferred
- $8,827
- Nontaxable benefits
- $23,176
- Filer's total
- $126,517 + $50,893 related
-
MATT BENEDICT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1.5 + 0.5 related
-
JACOB BLACK
IMMED PAST C
- Total calculated
- $0
- Hours/week
- 1 + 1.5 related
-
CHRIS BROWN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1.5 + 0.5 related
-
BRAD FORTNER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1.5 + 0.5 related
-
DAVID GAUTSCHE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1.5 + 0.5 related
-
ANDY GERLACH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1.5 + 0.5 related
-
ELIZABETH HECK
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1 + 1.5 related
-
WENSLEY HERBERT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1.5 + 0.5 related
-
JEFFERY HOWELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1.5 + 0.5 related
-
FRED EDMOND JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1.5 + 0.5 related
-
TIM KOPPENHAVER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1.5 + 0.5 related
-
STEVEN LINKOUS
PAST TREASUR
- Total calculated
- $0
- Hours/week
- 1 + 1.5 related
-
LISA LOTT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1.5 + 0.5 related
-
TRICIA MICKLEY
TREASURER
- Total calculated
- $0
- Hours/week
- 1 + 1.5 related
-
KEVIN MOSLEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1.5 + 0.5 related
-
JOEL MURRAY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1.5 + 0.5 related
-
RANDA RAWLINS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1.5 + 0.5 related
-
MARK RUSSELL
CHAIR-ELECT
- Total calculated
- $0
- Hours/week
- 1 + 1.5 related
-
RONALD RUTLEDGE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1.5 + 0.5 related
-
KENT SHANTZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1.5 + 0.5 related
-
JESSIE STAUFFACHER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1.5 + 0.5 related
-
STEVE STOGNER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1.5 + 0.5 related
-
PAUL STUEVEN
SECRETARY
- Total calculated
- $0
- Hours/week
- 1 + 1.5 related
-
SUSAN TAGGART
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1.5 + 0.5 related
-
MARK WALZ
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1 + 1.5 related
-
JIM WELLMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1.5 + 0.5 related
-
JEFF WROBEL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1.5 + 0.5 related
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 1a · Travel for companions
- 1a · Tax indemnification and gross-up payments
- 1a · Health or social club dues or initiation fees
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
- 3 · Independent compensation consultant
- 3 · Form 990 of other organizations
- 3 · Written employment contract
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
The filer's explanations (Part III)
- SCHEDULE J, PART III
- SCHEDULE J, PART I, LINE 4B: IN ORDER TO RETAIN EXECUTIVE MANAGEMENT, NAMIC CREATED NONQUALIFIED PLANS TO ADDRESS RETIREMENT PLAN LIMITATIONS FOR EXECUTIVE STAFF - A DEFINED BENEFIT "EXCESS" PLAN AND A DEFINED CONTRIBUTION "EXCESS" PLAN - SEPARATE UNFUNDED (NON-QUALIFIED) PLANS THAT PROVIDE A COMPARABLE BENEFIT FOR EXECUTIVE PAY IN EXCESS OF ANY QUALIFIED PLAN LIMIT.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
501C9 · BENEFITS · IN
Directly controlled by NAMIC INC
-
527 · PAC SUPPOR · IN
Directly controlled by NAMIC INC
-
NTL ASSOC OF MUTUAL INSUR CO PAC
527 · PAC SUPPOR · IN
Directly controlled by NA
-
501C3 · EDUCATION · IN
Directly controlled by NAMIC INC
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
C CORP · MGMNT-INS. · IN · 100% owned · share of income $775,406 · share of assets $14,992,458
Directly controlled by NAMIC INC
-
C CORP · INSURANCE · IN
Directly controlled by NSC
-
C CORP · INSURANCE · IN · 2.23% owned · share of income $16,161 · share of assets $1,758,945
Directly controlled by NA
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 14 November 2024
- IRS schema version
- 2023v5.0
- Source object
- 202423199349317222
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