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← INSURANCE INFORMATION INSTITUTE INC

Form 990 for tax year 2023

Filed by INSURANCE INFORMATION INSTITUTE INC.

Totals

Total revenue
$6,096,354
Total expenses
$8,613,151
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$5,950,576
Investment income
$0
Other revenue
$145,778
Total assets, end of year
$153,281
Total liabilities, end of year
$3,773,931
Net assets or fund balances, end of year
-$3,620,650
Program services expenses (Part IX)
$8,613,151
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Program services were 100.0% 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 $5,870,210 · related or exempt $5,870,210

  • 2b · Program service revenue: FORUM REG. AND SPONSOR. FEES

    total $80,366 · related or exempt $80,366

  • 3 · Investment income

    total $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: OTHER REVENUE

    total $145,778 · related or exempt $145,778

  • 11e · Other revenue, total

    $145,778

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $7,109 · program services $7,109

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

  • 24a · Other expenses: BANK FEES

    total $617 · program services $617

  • 24b · Other expenses: SHARED RESOURCE SERVICES

    total $8,605,425 · program services $8,605,425

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,857 · end of year $4,778

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $86,330 · end of year $38,798

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $116,814 · end of year $109,705

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,235,165 · end of year $3,645,590

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $73,689 · end of year $128,341

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year -$1,103,853 · end of year -$3,620,650

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

WE ARE AN EDUCATIONAL, FACT FINDING AND COMMUNICATIONS ORGANIZATION FOR THE PROPERTY AND CASUALTY INSURANCE INDUSTRY. THE INSTITUTE CONDUCTS PUBLIC RELATIONS AND EDUCATIONAL ACTIVITIES ON BEHALF OF THE INDUSTRY AND IS SUPPORTED BY OVER 80 MEMBER COMPANIES.

Activities or mission (Part I)

TO IMPROVE PUBLIC UNDERSTANDING OF INSURANCE - WHAT IT DOES AND HOW IT WORKS

  • MEMBERSHIP DUES FROM INDUSTRY MEMBERS TO SUPPORT ACTIVITIES BENEFITTING THE INSURANCE INDUSTRY. TRIPLE-I PRODUCES PUBLIC EDUCATIONAL MATERIALS IN SUPPORT OF OUR MISSION TO BE THE TRUSTED SOURCE OF DATA-DRIVEN INSIGHTS ON INSURANCE TO INFORM AND EMPOWER CONSUMERS. TRIPLE-I PROVIDES BENEFITS TO MEMBERS INCLUDING INDUSTRY REPORTS, FACTS AND STATISTICS, THE DAILY NEWS PUBLICATION, SIGNIFICANT COMMUNICATION/MEDIA RELATIONS SERVICES AND RESEARCH SERVICES.

  • SUBSCRIBER FEES FROM ASSISTING OTHER INDUSTRY ORGANIZATIONS - TRIPLE-I AMPLIFY IS A PUBLIC RELATIONS (PR) CONSULTANCY DESIGNED TO HELP INSURANCE INDUSTRY MEMBER ORGANIZATIONS DRIVE INCREASED AWARENESS OF THEIR MISSION AND DEEPEN THEIR INDUSTRY ENGAGEMENT THROUGH COMMUNICATIONS-RELATED AND MEDIA SERVICES.

  • JOINT INDUSTRY FORUM REGISTRATION FEES - THE JOINT INDUSTRY FORUM CONFERENCE ASSEMBLES KEY FIGURES FROM THE BUSINESS, POLICYMAKING, AND MEDIA SPHERES TO EXPLORE TOPICS OF VITAL INTEREST TO THE PROPERTY/CASUALTY INSURANCE INDUSTRY AND PROVIDE NETWORKING OPPORTUNITIES FOR TRIPLE-I MEMBERS AND OTHER INSURANCE INDUSTRY LEADERS.

As filed on the 2023 return.

Listed in Part VII

  • Peter L Miller

    CEO

    Total calculated
    $2,437,369
    From this org
    $0
    From related orgs
    $2,216,772
    Other
    $220,597
    Hours/week
    2 + 51 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,214,396 related
    Bonus
    not reported + $1,000,000 related
    Other
    not reported + $2,376 related
    Deferred
    not reported + $204,613 related
    Nontaxable benefits
    not reported + $15,984 related
    Filer's total
    $0 + $2,437,369 related

  • Katherine E Horowitz

    SECRETARY

    Total calculated
    $993,683
    From this org
    $0
    From related orgs
    $930,813
    Other
    $62,870
    Hours/week
    2 + 51 related

    Schedule J breakdown matched by us

    Base
    $0 + $547,376 related
    Bonus
    not reported + $375,000 related
    Other
    not reported + $8,437 related
    Deferred
    not reported + $48,000 related
    Nontaxable benefits
    not reported + $14,870 related
    Filer's total
    $0 + $993,683 related

  • Sean Kevelighan

    DIRECTOR

    Total calculated
    $830,051
    From this org
    $0
    From related orgs
    $770,464
    Other
    $59,587
    Hours/week
    51

    Schedule J breakdown matched by us

    Base
    $0 + $639,636 related
    Bonus
    not reported + $130,000 related
    Other
    not reported + $828 related
    Deferred
    not reported + $43,500 related
    Nontaxable benefits
    not reported + $16,087 related
    Filer's total
    $0 + $830,051 related

  • Jeffrey A Scheidt

    TREASURER

    Total calculated
    $566,648
    From this org
    $0
    From related orgs
    $497,761
    Other
    $68,887
    Hours/week
    2 + 51 related

    Schedule J breakdown matched by us

    Base
    $0 + $383,385 related
    Bonus
    not reported + $112,000 related
    Other
    not reported + $2,376 related
    Deferred
    not reported + $52,800 related
    Nontaxable benefits
    not reported + $16,087 related
    Filer's total
    $0 + $566,648 related

  • Jennifer Kyung

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

FORM 990, SCHEDULE J, PART I, LINE 3
AS PROVIDED IN THE FORM 990, SCHEDULE J INSTRUCTIONS, SINCE THE ORGANIZATION RELIES ON A RELATED ORGANIZATION, WHICH USES ONE OR MORE OF THE METHODS DESCRIBED ON LINE 3 TO ESTABLISH THE TOP MANAGEMENT OFFICIAL'S COMPENSATION, THIS QUESTION HAS BEEN LEFT UNANSWERED. REFER TO SCHEDULE O FOR A DESCRIPTION OF THE COMPENSATION REVIEW AND APPROVAL PROCESS.
FORM 990, SCHEDULE J, PART I, LINE 4B
A RELATED ORGANIZATION, THE AMERICAN INSTITUTE FOR CHARTERED PROPERTY CASUALTY UNDERWRITERS, MAINTAINS A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN (THE "PLAN") SUBJECT TO INTERNAL REVENUE CODE SECTION 457(F). UNDER THE PLAN, THE ENTIRE ACCRUED BENEFIT BECOMES 100% VESTED AFTER 3 YEARS OF SERVICE. PARTICIPANTS MUST REMAIN IN CONTINUOUS EMPLOYMENT FOR TWELVE (12) CONSECUTIVE MONTHS TO RECEIVE CREDIT FOR ONE (1) YEAR OF SERVICE. AN ACCRUED BENEFIT UNDER THE PLAN SHALL BE DISTRIBUTED ON THE DATE OR DATES ON WHICH THE ACCRUED BENEFIT BECOMES VESTED. TERMINATION OF SERVICES WILL RESULT IN FORFEITURE. PETER MILLER ACCRUED A BENEFIT OF $150,000 UNDER THE PLAN DURING CALENDAR YEAR 2023 AND THIS AMOUNT IS INCLUDED ON SCHEDULE J, PART II.

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.

  • RISK KNOWLEDGE GROUP

    C CORP · EDUCATION · DE

    Directly controlled by AICPCU

  • IIS LONDON LTD

    C CORP · EDUCATIONAL · UK

    Directly controlled by IIS

  • IIS GLOBAL INSURANCE LTD

    C CORP · EDUCATIONAL · SN

    Directly controlled by IIS

  • RISKSTREAM GLOBAL INITIATIVES

    C CORP · INSURANCE · DE

    Directly controlled by AICPCU

  • RISKSTREAM LABS

    C CORP · INSURANCE · DE

    Directly controlled by AICPCU

  • TI TRAVEL INC

    C CORP · INSURANCE · DE

    Directly controlled by AICPCU

Provenance

Return type
form_990
Tax year
2023
Filed
7 November 2024
IRS schema version
2023v5.1
Source object
202443139349302769

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