Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: EARNED PREMIUMS

  total $44,946,970 · related or exempt $44,946,970

• 3 · Investment income

  total $3,234,750 · excluded $3,234,750

• 7a · Gross sales of assets other than inventory

  securities $41,806,820

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

  securities $34,687,576

• 7c · Gain or loss

  securities $7,119,244

• 7d · Net gain or loss

  total $7,119,244 · excluded $7,119,244

• 11d · All other revenue

  total $55,466 · excluded $55,466

• 11e · Other revenue, total

  $55,466

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $200,000

• 2 · Grants to domestic individuals

  total $212,500

• 4 · Benefits paid to or for members

  total $28,503,642

• 5 · Compensation of officers, directors and key employees

  total $1,644,465

• 7 · Other salaries and wages

  total $3,356,424

• 8 · Pension plan contributions

  total $443,001

• 9 · Other employee benefits

  total $834,954

• 10 · Payroll taxes

  total $317,908

• 11b · Fees: legal

  total $221,101

• 11c · Fees: accounting

  total $88,611

• 11f · Fees: investment management

  total $77,898

• 11g · Fees: other

  total $1,460,238

• 12 · Advertising and promotion

  total $5,492,647

• 13 · Office expenses

  total $674,895

• 14 · Information technology

  total $3,414,859

• 16 · Occupancy

  total $168,569

• 19 · Conferences, conventions and meetings

  total $552,211

• 22 · Depreciation, depletion and amortization

  total $957,586

• 23 · Insurance

  total $109,424

• 24a · Other expenses: MEMBER REFUNDS

  total $4,240,218

• 24b · Other expenses: MEMBER PROGRAMS

  total $392,470

• 24c · Other expenses: TAXES & LICENSES

  total $114,359

• 24d · Other expenses: DUES & MEMBERSHIPS

  total $67,555

• 24e · All other expenses

  total $139,525

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $3,677,590 · end of year $3,778,200

• 2 · Savings and temporary cash investments

  beginning of year $103,816 · end of year $183,381

• 4 · Accounts receivable

  beginning of year $2,855,345 · end of year $6,979,141

• 9 · Prepaid expenses and deferred charges

  beginning of year $395,016 · end of year $343,603

• 10a · Land, buildings and equipment: cost or other basis

  $14,409,553

• 10b · Land, buildings and equipment: accumulated depreciation

  $5,486,462

• 10c · Land, buildings and equipment, net

  beginning of year $9,884,470 · end of year $8,923,091

• 11 · Investments: publicly traded securities

  beginning of year $85,218,175 · end of year $85,374,194

• 12 · Investments: other securities

  beginning of year $23,113,178 · end of year $22,082,287

• 15 · Other assets

  beginning of year $1,787,023 · end of year $1,722,708

• 17 · Accounts payable and accrued expenses

  beginning of year $4,591,477 · end of year $4,378,086

• 25 · Other liabilities

  beginning of year $15,756 · end of year $3,885

• 27 · Net assets without donor restrictions

  beginning of year $122,427,380 · end of year $125,004,634

The filer's explanations (Part III)

PART I, LINE 3

THE ITEMS ABOVE WERE MADE AVAILABLE TO THE EXECUTIVE COMMITTEE TO DETERMINE THE ANNUAL COMPENSATION FOR MONTGOMERY SHANE CANFIELD. THE BOARD THEN APPROVES.