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← SOCIETY OF CERTIFIED INSURANCE COUNSELORS

Form 990 for tax year 2023

Filed by SOCIETY OF CERTIFIED INSURANCE COUNSELORS.

Totals

Total revenue
$12,643,815
Total expenses
$13,851,572
Contributions and grants received
$2,288,056
Grants paid
$8,180
Program service revenue
$9,150,034
Investment income
$87,030
Other revenue
$1,118,695
Total assets, end of year
$16,686,507
Total liabilities, end of year
$13,065,600
Net assets or fund balances, end of year
$3,620,907
Program services expenses (Part IX)
$9,765,712
Management and general expenses
$4,085,860
Fundraising expenses
$0
Program service expenses (Part III)
$9,765,712

Program services were 70.5% 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.

  • 1b · Membership dues

    $2,288,056

  • 2a · Program service revenue: SEMINAR REVEVUES

    total $6,038,074 · related or exempt $6,038,074

  • 2b · Program service revenue: LICENSEE SPONSORED PROGRAM REVENU

    total $3,083,268 · related or exempt $3,083,268

  • 2c · Program service revenue: CREDENTIAL AND CE ADMIN FEES

    total $28,692 · related or exempt $28,692

  • 3 · Investment income

    total $180,412 · excluded $180,412

  • 6a · Gross rents

    real property $27,305

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $27,305

  • 6d · Net rental income or loss

    total $27,305 · unrelated business $27,305

  • 7a · Gross sales of assets other than inventory

    securities $17,000

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

    securities $110,382

  • 7c · Gain or loss

    securities -$93,382

  • 7d · Net gain or loss

    total -$93,382 · excluded -$93,382

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $999,534 · related or exempt $999,534

  • 11b · Other revenue: OTHER INVESTMENT INCOME

    total $91,856 · excluded $91,856

  • 11e · Other revenue, total

    $1,091,390

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $8,180 · program services $8,180

  • 9 · Other employee benefits

    total $140,767 · management and general $140,767

  • 11b · Fees: legal

    total $28,500 · management and general $28,500

  • 11c · Fees: accounting

    total $50,017 · management and general $50,017

  • 11f · Fees: investment management

    total $37,595 · management and general $37,595

  • 11g · Fees: other

    total $659,269 · management and general $659,269

  • 12 · Advertising and promotion

    total $413,538 · management and general $413,538

  • 13 · Office expenses

    total $637,201 · management and general $637,201

  • 14 · Information technology

    total $630,791 · management and general $630,791

  • 16 · Occupancy

    total $136,486 · management and general $136,486

  • 17 · Travel

    total $4,561 · management and general $4,561

  • 19 · Conferences, conventions and meetings

    total $1,571,689 · program services $1,480,652 · management and general $91,037

  • 20 · Interest

    total $127,683 · management and general $127,683

  • 22 · Depreciation, depletion and amortization

    total $619,742 · management and general $619,742

  • 23 · Insurance

    total $242,919 · management and general $242,919

  • 24a · Other expenses: INTERCOMPANY MANAGEMENT

    total $7,241,628 · program services $7,241,628

  • 24b · Other expenses: CREDENTIALING EXPENSE

    total $754,016 · program services $754,016

  • 24c · Other expenses: ACADEMIC DEVELOPMENT

    total $159,097 · program services $159,097

  • 24d · Other expenses: PROPERTY AND SALES TAX

    total $128,981 · management and general $128,981

  • 24e · All other expenses

    total $258,912 · program services $122,139 · management and general $136,773

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $66,220 · end of year $106,400

  • 2 · Savings and temporary cash investments

    beginning of year $8,598,032 · end of year $8,975,367

  • 4 · Accounts receivable

    beginning of year $1,267,786 · end of year $1,249,527

  • 8 · Inventories for sale or use

    beginning of year $6,997 · end of year $1,354

  • 9 · Prepaid expenses and deferred charges

    beginning of year $353,128 · end of year $369,022

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

    $11,428,438

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

    $5,515,126

  • 10c · Land, buildings and equipment, net

    beginning of year $6,151,762 · end of year $5,913,312

  • 12 · Investments: other securities

    beginning of year $4,995 · end of year $4,995

  • 15 · Other assets

    beginning of year $111,907 · end of year $66,530

  • 17 · Accounts payable and accrued expenses

    beginning of year $348,753 · end of year $445,096

  • 18 · Grants payable

    beginning of year $3,195 · end of year $0

  • 19 · Deferred revenue

    beginning of year $2,074,120 · end of year $2,144,862

  • 22 · Loans and payables to officers and key people

    beginning of year $1,876,783 · end of year $1,641,978

  • 25 · Other liabilities

    beginning of year $8,321,079 · end of year $8,833,664

  • 27 · Net assets without donor restrictions

    beginning of year $3,936,897 · end of year $3,620,907

Mission and programs · 2023

Mission

TO PROVIDE EXCELLENT PROGRAMS OF PRACTICAL VALUE TO THE BEST INSURANCE AND RISK MANAGEMENT PRACTITIONERS, AND TO CONTINUALLY WORK TO BRING GREATER RECOGNITION AND VALUE TO THEIR ACHIEVEMENTS.

Activities or mission (Part I)

TO PROVIDE QUALITY CONTINUING PROFESSIONAL EDUCATION TO ALL INSURANCE AND RISK MANAGEMENT PROFESSIONALS.

  • SEMINAR AND INSTITUTE COSTS FOR THE EDUCATION OF CERTIFIEDINSURANCE COUNSELORS, CERTIFIED RISK MANAGERS, CERTIFIED PERSONAL RISK MANAGERS, AND CERTIFIED SCHOOL RISK MANAGERS.

    Expenses $9,765,712 · Revenue $10,149,568

As filed on the 2023 return.

Listed in Part VII

  • Philip T Kramer Cic Cpcu

    IMMEDIATE PAST CHAIRMAN

    Total calculated
    $0
    Hours/week
    5

  • Gabriel Gabe Portillo Cic

    MEMBER-AT-LARGE

    Total calculated
    $0
    Hours/week
    5

  • Denise D Brown Cic Cpcu Ains Aic

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • Jack H Elliott Jr Cic Cisr Sotp

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    5

  • Chris Kerr Cic Cisr

    MEMBER-AT-LARGE

    Total calculated
    $0
    Hours/week
    5

  • Travis McDavid Cic

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • R Kevin Ray Cic Cpcu Au Ains Ai

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    5

  • Karen Reynolds Cic

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • David M Saldon Cic

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • Lindsey A Shank Cic

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • S Cole Tucker Jr Cic Crm Lutcf

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • David A Walker Cic Crm Arm Aai

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • Mark E Wall Cic Crm Cpcu Arm

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • Tabitha Richardson Cic Crm Cisr C

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • Tiffanie Courtney Cic Cisr Cris

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • William T Hold PhD Cic Cpcu Cl

    EXECUTIVE CHAIRMAN

    Total calculated
    $341,051
    From this org
    $0
    From related orgs
    $326,448
    Other
    $14,603
    Hours/week
    20

    Schedule J breakdown matched by us

    Base
    $0 + $320,950 related
    Bonus
    $0 + $5,498 related
    Other
    $0
    Deferred
    $0 + $14,603 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $341,051 related

  • William J Hold MBA Crm Cisr

    CHIEF EXECUTIVE OFFICER/PR

    Total calculated
    $560,264
    From this org
    $0
    From related orgs
    $545,414
    Other
    $14,850
    Hours/week
    20

    Schedule J breakdown matched by us

    Base
    $0 + $350,000 related
    Bonus
    $0 + $195,414 related
    Other
    $0
    Deferred
    $0 + $14,850 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $560,264 related

  • Mitch Dunford MBA

    CHIEF MARKETING OFFICER

    Total calculated
    $287,054
    From this org
    $0
    From related orgs
    $280,304
    Other
    $6,750
    Hours/week
    20

    Schedule J breakdown matched by us

    Base
    $0 + $178,269 related
    Bonus
    $0 + $102,035 related
    Other
    $0
    Deferred
    $0 + $6,750 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $287,054 related

  • Alex Lekhraj

    CHIEF OPERATING OFFICER

    Total calculated
    $291,221
    From this org
    $0
    From related orgs
    $278,717
    Other
    $12,504
    Hours/week
    20

    Schedule J breakdown matched by us

    Base
    $0 + $178,269 related
    Bonus
    $0 + $100,448 related
    Other
    $0
    Deferred
    $0 + $12,504 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $291,221 related

  • Bettie J Duff

    SECRETARY

    Total calculated
    $127,205
    From this org
    $0
    From related orgs
    $121,759
    Other
    $5,446
    Hours/week
    20

  • Danielle D Janecka

    CHIEF EXPERIENCE OFFICER

    Total calculated
    $291,221
    From this org
    $0
    From related orgs
    $278,717
    Other
    $12,504
    Hours/week
    20

    Schedule J breakdown matched by us

    Base
    $0 + $178,269 related
    Bonus
    $0 + $100,448 related
    Other
    $0
    Deferred
    $0 + $12,504 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $291,221 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

  • 3 · Written employment contract
  • 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 3
COMPENSATION OF THE CEO IS DETERMINED AND APPROVED BY THE BOARD OF GOVERNORS.

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.

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.

  • CERTIFIED RISK MANAGERS INTNL SA DE CV

    C · EDUCATION · MX · 95% owned

    Directly controlled by SOCIETY OF CIC

Provenance

Return type
form_990
Tax year
2023
Filed
9 November 2024
IRS schema version
2023v5.1
Source object
202443179349308949

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