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← INDEPENDENT INSURANCE AGENTS OF TEXAS

Form 990 for tax year 2023

Filed by INDEPENDENT INSURANCE AGENTS OF TEXAS.

Totals

Total revenue
$4,386,017
Total expenses
$4,103,199
Contributions and grants received
$0
Grants paid
$4,000
Program service revenue
$2,803,731
Investment income
$610,186
Other revenue
$972,100
Total assets, end of year
$15,848,220
Total liabilities, end of year
$865,781
Net assets or fund balances, end of year
$14,982,439
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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 $1,196,865 · related or exempt $1,196,865

  • 2b · Program service revenue: CONFERENCES AND MEETINGS

    total $840,340 · related or exempt $840,340

  • 2c · Program service revenue: EDUCATION

    total $669,142 · related or exempt $669,142

  • 2d · Program service revenue: OTHER MEMBER SERVICES

    total $97,384 · related or exempt $97,384

  • 3 · Investment income

    total $499,287 · excluded $499,287

  • 5 · Royalties

    total $972,100 · excluded $972,100

  • 7a · Gross sales of assets other than inventory

    securities $423,552

  • 7b · Less cost or other basis and sales expenses

    securities $312,653

  • 7c · Gain or loss

    securities $110,899

  • 7d · Net gain or loss

    total $110,899 · excluded $110,899

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,000

  • 5 · Compensation of officers, directors and key employees

    total $806,318

  • 7 · Other salaries and wages

    total $746,299

  • 8 · Pension plan contributions

    total $67,876

  • 9 · Other employee benefits

    total $124,060

  • 10 · Payroll taxes

    total $100,054

  • 11c · Fees: accounting

    total $47,167

  • 11f · Fees: investment management

    total $60,491

  • 11g · Fees: other

    total $79,450

  • 13 · Office expenses

    total $200,623

  • 14 · Information technology

    total $139,148

  • 16 · Occupancy

    total $184,371

  • 17 · Travel

    total $122,467

  • 19 · Conferences, conventions and meetings

    total $916,250

  • 21 · Payments to affiliates

    total $404,309

  • 23 · Insurance

    total $46,422

  • 24a · Other expenses: COMMITTEE AND OTHER COS

    total $53,894

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $641,232 · end of year $497,420

  • 4 · Accounts receivable

    beginning of year $210,582 · end of year $263,390

  • 9 · Prepaid expenses and deferred charges

    beginning of year $53,104 · end of year $97,334

  • 11 · Investments: publicly traded securities

    beginning of year $12,390,236 · end of year $13,764,230

  • 12 · Investments: other securities

    beginning of year $1,539,072 · end of year $1,225,846

  • 17 · Accounts payable and accrued expenses

    beginning of year $223,173 · end of year $170,433

  • 19 · Deferred revenue

    beginning of year $771,672 · end of year $695,348

  • 27 · Net assets without donor restrictions

    beginning of year $13,839,381 · end of year $14,982,439

Mission and programs · 2023

Mission

TRADE ASSOCIATION FOR INSURANCE AGENTS

Activities or mission (Part I)

TRADE ASSOCIATION FOR INSURANCEAGENTS

  • IIAT PROVIDES NUMEROUS MEMBERSHIP BENEFITS. THE BI-WEEKLY "TEXAS AGENT"NEWSLETTER KEEPS MEMBERS INFORMED ABOUT CURRENT EVENTS AND ISSUES IN TEXAS INSURANCE FROM THE AGENT'S PERSPECTIVE. MEMBERS CAN ACCESS NEARLY EVERY IIAT SERVICE ONLINE FROM THEIR COMPUTER BY VISITING WWW.IIAT.ORG WHERE A VAST ARRAY OF HELPFUL INFORMATION IS AVAILABLE. INFORCENTRAL IS IIAT'S PREMIER ONLINE RESEARCH LIBRARY WITH EXPLANATIONS OF COMPLEX POLICY LANGUAGE, TECHNICAL COVERAGE ARTICLES, CLIENT COMMUNICATIONS AND MORE. MEMBERSHIP IN IIAT AUTOMATICALLY QUALIFIES THE AGENT FOR MEMBERSHIP IN IIAT'S NATIONAL AFFILIATE, THE INDEPENDENT INSURANCE AGENTS AND BROKERS OF AMERICA.

  • IIAT HOSTS FOUR MAJOR CONFERENCES AND MEETINGS EACH YEAR. IIAT'S ANNUALCONFERENCE AND TRADE SHOW FEATURES TWO DAYS OF TOP-NOTCH SPEAKERS, CONTINUING EDUCATION WORKSHOPS, EXHIBITS AND ENTERTAINMENT, PLUS THE CHANCE TO MIX WITH NEARLY 1,000 INDUSTRY COLLEAGUES. THE ANNUAL JOE VINCENT MANAGEMENT SEMINAR IS ONE OF THE PREMIER EDUCATIONAL EVENTS OF THE YEAR IN TEXAS AND IS DEVOTED EXCLUSIVELY TO AGENCY OWNERS AND MANAGERS WITH A THREE-DAY PROGRAM WITH MULTIPLE WORKSHOPS AND PRESENTATIONS FOCUSED ON MANAGEMENT ISSUES AND TECHNIQUES. THE SMALL AGENCY CONFERENCE IS GEARED TO THE NEEDS OF AGENCY OWNERS WRITING MOSTLY SMALL ACCOUNTS AND IS A ONE-OF-A-KIND EVENT FOR SMALL AGENCIES WITH CONTINUING EDUCATION WORKSHOPS, NETWORKING, AND MARKET ACCESS.

  • IIAT'S GOVERNMENTAL AFFAIRS STAFF AND GRASSROOTS LEADERSHIP TEAM WORKCLOSELY WITH LAWMAKERS AND POLITICAL LEADERS AS A RESOURCE FOR INSURANCE INFORMATION AS IT RELATES TO AGENTS. IIAT'S CLOSE RELATIONSHIP WITH THE TEXAS DEPARTMENT OF INSURANCE ENSURES IIAT MEMBERS' VOICES ARE HEARD AS REGULATIONS ARE DRAFTED AND RULES PUBLISHED. IIAT PUBLISHES THE "CAPITOL REPORT" WHILE THE TEXAS LEGISLATURE IS IN SESSION AND PROVIDES ONLINE BILL ANALYSES WITH CURRENT INFORMATION ABOUT PROPOSED LEGISLATION AND HOW THEY WILL AFFECT AGENTS.

As filed on the 2023 return.

Listed in Part VII

  • Tyler Spears

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mark Bridges

    IMMEDIATE PAST CHAIRMAN - BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Tommy Dies

    CHAIRMAN ELECT - BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Robert Nitsche

    STATE NATIONAL DIRECTOR - BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Josh Fields

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Josh Andrajack

    CHAIRMAN - BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Christy Ross

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mark Perkins

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mike Hotchkiss

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ben Patterson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kyle Dean

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Travis McDavid

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Marit Peters

    PRESIDENT & EXECUTIVE DIRECTOR

    Total calculated
    $398,735
    From this org
    $358,240
    From related orgs
    $0
    Other
    $40,495
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $308,240
    Bonus
    $50,000
    Other
    $0
    Deferred
    $30,824
    Nontaxable benefits
    $9,671
    Filer's total
    $398,735

  • Cynthia Quy

    SECRETARY

    Total calculated
    $88,946
    From this org
    $80,801
    From related orgs
    $0
    Other
    $8,145
    Hours/week
    39 + 1 related

  • Josh Lewis

    TREASURER

    Total calculated
    $142,218
    From this org
    $122,312
    From related orgs
    $0
    Other
    $19,906
    Hours/week
    39 + 1 related

  • Angela Ford

    CONTINUOUS IMPROVEMENT DIRECTOR

    Total calculated
    $176,419
    From this org
    $153,775
    From related orgs
    $0
    Other
    $22,644
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $138,775
    Bonus
    $15,000
    Other
    $0
    Deferred
    $13,878
    Nontaxable benefits
    $8,766
    Filer's total
    $176,419

  • Regan Ellmer

    GOVERNMENTAL AFFAIRS DIRECTOR

    Total calculated
    $163,049
    From this org
    $140,900
    From related orgs
    $0
    Other
    $22,149
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $134,400
    Bonus
    $6,500
    Other
    $0
    Deferred
    $13,440
    Nontaxable benefits
    $8,709
    Filer's total
    $163,049

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
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 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)

PART I, LINE 1A
EACH YEAR IIAT HOSTS ITS ANNUAL CONVENTION CALLED INSURCON WHERE IT PAYS FOR THE TRAVEL EXPENSE INCURRED BY THE SPOUSES OF BOARD MEMBERS THAT ATTEND. EACH YEAR IIAT'S NATIONAL ASSOCIATION (IIABA) HOSTS A NATIONAL LEGISLATIVE CONFERENCE IN WASHINGTON DC AND IIAT PAYS FOR THE TRAVEL EXPENSE INCURRED BY THE SPOUSES OF THE EXECUTIVE COMMITTEE OF THE BOARD THAT ATTEND.

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.

  • POLITICAL ACTION COMMITTEE OF IIAT

    527 · POLITICAL ACTION COMMITTEE · TX

  • IIAT FOUNDATION

    501(C)(3) · EDUCATIONAL FOUNDATION · TN

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.

  • IIAT SERVICES COMPANY

    C · INSURANCE RELATED ACTIVITY · TX · 100% owned · share of assets $2,266,797 · controlled entity

    Directly controlled by IIAT

  • PROJECT RUNOFF INC

    C · INSURANCE RELATED ACTIVITY · TX · 100% owned · share of assets $250 · controlled entity

    Directly controlled by IIAT SERVICES

Provenance

Return type
form_990
Tax year
2023
Filed
29 May 2025
IRS schema version
2023v6.0
Source object
202501579349300020

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