Form 990 for tax year 2022
Filed by INDEPENDENT INSURANCE AGENTS OF N CAROLINA INC.
Totals
- Total revenue
- $4,716,113
- Total expenses
- $4,083,977
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $4,341,182
- Investment income
- $150,337
- Other revenue
- $224,594
- Total assets, end of year
- $12,276,601
- Total liabilities, end of year
- $1,414,194
- Net assets or fund balances, end of year
- $10,862,407
- 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: CONVENTION FEES
total $1,172,994 · related or exempt $1,172,994
-
2b · Program service revenue: MEMBER DUES
total $1,111,149 · related or exempt $1,111,149
-
2c · Program service revenue: EDUCATIONAL PROGRAMS
total $912,857 · related or exempt $912,857
-
2d · Program service revenue: PUBLIC EDUCATION
total $714,500 · related or exempt $714,500
-
2e · Program service revenue: SERVICE FEES
total $230,162 · related or exempt $230,162
-
2f · All other program service revenue
total $199,520 · related or exempt $199,520
-
3 · Investment income
total $57,033 · excluded $57,033
-
5 · Royalties
total $207,359 · excluded $207,359
-
7a · Gross sales of assets other than inventory
securities $110,000 · other assets $28,358
-
7b · Less cost or other basis and sales expenses
securities $43,403 · other assets $1,651
-
7c · Gain or loss
securities $66,597 · other assets $26,707
-
7d · Net gain or loss
total $93,304 · related or exempt $93,304
-
11a · Other revenue: MISCELLANEOUS
total $17,235 · related or exempt $17,235
-
11e · Other revenue, total
$17,235
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $165,357
-
7 · Other salaries and wages
total $654,257
-
8 · Pension plan contributions
total $69,509
-
9 · Other employee benefits
total $85,240
-
10 · Payroll taxes
total $57,988
-
11g · Fees: other
total $44,178
-
12 · Advertising and promotion
total $16,461
-
19 · Conferences, conventions and meetings
total $631,543
-
22 · Depreciation, depletion and amortization
total $201,001
-
24a · Other expenses: PUBLIC EDUCATION
total $822,838
-
24b · Other expenses: EDUCATIONAL PROGRAMS
total $606,338
-
24c · Other expenses: NATIONAL DUES
total $287,482
-
24d · Other expenses: BUILDING OPERATIONS
total $189,419
-
24e · All other expenses
total $252,366
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $1,491,136 · end of year $2,120,026
-
4 · Accounts receivable
beginning of year $103,767 · end of year $126,733
-
9 · Prepaid expenses and deferred charges
beginning of year $60,657 · end of year $86,166
-
10a · Land, buildings and equipment: cost or other basis
$3,329,099
-
10b · Land, buildings and equipment: accumulated depreciation
$1,675,588
-
10c · Land, buildings and equipment, net
beginning of year $1,498,264 · end of year $1,653,511
-
11 · Investments: publicly traded securities
beginning of year $3,615,563 · end of year $3,961,708
-
15 · Other assets
beginning of year $4,250,954 · end of year $4,328,457
-
17 · Accounts payable and accrued expenses
beginning of year $195,332 · end of year $553,667
-
19 · Deferred revenue
beginning of year $861,533 · end of year $860,527
-
27 · Net assets without donor restrictions
beginning of year $8,966,726 · end of year $10,147,907
-
28 · Net assets with donor restrictions
beginning of year $996,750 · end of year $714,500
Mission and programs · 2022
Mission
THE MISSION OF INDEPENDENT INSURANCE AGENTS OF NORTH CAROLINA ("ASSOCIATION") IS TO ADVOCATE FOR THE INDEPENDENT AGENCY SYSTEM AND TO FULFILL THE BUSINESS AND PROFESSIONAL NEEDS OF ITS MEMBERS.
Activities or mission (Part I)
THE ASSOCIATION'S PURPOSE IS TO BE AN ADVOCATE FOR INDEPENDENT INSURANCE AGENTS IN NORTH CAROLINA AND TO SATISFY THE BUSINESS AND PROFESSIONAL NEEDS OF ITS MEMBERS BY PROVIDING EDUCATION AND INSURANCE PROGRAMS, INDUSTRY REPRESENTATION AND MEMBER SERVICES.
-
THE ASSOCIATION OFFERS A VARIETY OF SERVICES TO ITS MEMBERS INCLUDING EDUCATION AND INSURANCE PROGRAMS, INDUSTRY REPRESENTATION, AND MEMBER SERVICES.
As filed on the 2022 return.
Listed in Part VII
-
Michelle O'ConnerMICHELLE O'CONNER
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 5
-
Karl SherrillKARL SHERRILL
CHAIRMAN ELECT
- Total calculated
- $0
- Hours/week
- 5
-
Wortham BoyleWORTHAM BOYLE
TREASURER / SECRETARY
- Total calculated
- $0
- Hours/week
- 5
-
Robert SalmonROBERT SALMON
NATIONAL DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Daniel CookDANIEL COOK
IMMEDIATE PAST CHAIRMAN
- Total calculated
- $0
- Hours/week
- 5
-
John E RobinsonJOHN E ROBINSON
DIRECTOR - DISTRICT ONE
- Total calculated
- $0
- Hours/week
- 1
-
Don Stroud JrDON STROUD JR
DIRECTOR - DISTRICT TWO
- Total calculated
- $0
- Hours/week
- 1
-
Karen FentressKAREN FENTRESS
DIRECTOR - DISTRICT THREE
- Total calculated
- $0
- Hours/week
- 1
-
Deidre RushinDEIDRE RUSHIN
DIRECTOR - AT LARGE
- Total calculated
- $0
- Hours/week
- 1
-
Landon BenthamLANDON BENTHAM
DIRECTOR - AT LARGE
- Total calculated
- $0
- Hours/week
- 1
-
Jack WingateJACK WINGATE
DIRECTOR - AT LARGE
- Total calculated
- $0
- Hours/week
- 1
-
Thomas RhodesTHOMAS RHODES
DIRECTOR - AT LARGE
- Total calculated
- $0
- Hours/week
- 1
-
Ray Tedder JrRAY TEDDER JR
DIRECTOR - AT LARGE
- Total calculated
- $0
- Hours/week
- 1
-
Richard L Garner IIIRICHARD L GARNER III
DIRECTOR - AT LARGE
- Total calculated
- $0
- Hours/week
- 1
-
Daniel RohrbaughDANIEL ROHRBAUGH
ILEAD COMMITTEE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Aubie KnightAUBIE KNIGHT
CHIEF EXECUTIVE OFFICER
- Total calculated
- $544,171
- From this org
- $0
- From related orgs
- $493,057
- Other
- $51,114
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $0 + $410,392 related
- Bonus
- $0 + $75,000 related
- Other
- $0 + $7,665 related
- Deferred
- $0 + $38,475 related
- Nontaxable benefits
- $0 + $12,639 related
- Filer's total
- $0 + $544,171 related
-
Brad FaulknerBRAD FAULKNER
CHIEF FINANCIAL OFFICER
- Total calculated
- $172,686
- From this org
- $0
- From related orgs
- $146,538
- Other
- $26,148
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $0 + $137,538 related
- Bonus
- $0 + $9,000 related
- Other
- $0
- Deferred
- $0 + $13,748 related
- Nontaxable benefits
- $0 + $12,400 related
- Filer's total
- $0 + $172,686 related
-
Lisa WeatherlyLISA WEATHERLY
AGENCY MANAGER
- Total calculated
- $148,894
- From this org
- $0
- From related orgs
- $125,987
- Other
- $22,907
- Hours/week
- 40
-
Rebecca ShigleyREBECCA SHIGLEY
CHIEF OPERATING OFFICER
- Total calculated
- $240,438
- From this org
- $0
- From related orgs
- $207,048
- Other
- $33,390
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $0 + $185,868 related
- Bonus
- $0 + $16,000 related
- Other
- $0 + $5,180 related
- Deferred
- $0 + $20,731 related
- Nontaxable benefits
- $0 + $12,659 related
- Filer's total
- $0 + $240,438 related
-
Joe StewartJOE STEWART
VICE PRESIDENT, GOVERNMENT
- Total calculated
- $201,608
- From this org
- $0
- From related orgs
- $172,418
- Other
- $29,190
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $0 + $158,274 related
- Bonus
- $0 + $8,000 related
- Other
- $0 + $6,144 related
- Deferred
- $0 + $16,601 related
- Nontaxable benefits
- $0 + $12,589 related
- Filer's total
- $0 + $201,608 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 · 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 · 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
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.
-
IIANC EDUCATION FOUNDATION INC
501(C)(3) · SUPPORT IIANC IN DEVELOPMENT & PROMOTION OF INSURANCE EDUCATION IN NC · NC
-
NC SMALL BUSINESS PAC OF IIANC
527 · LOBBYING FOR IIANC · NC
Directly controlled by IIANC
-
IIANC INDEPENDENT EXPENDITURE PAC
527 · LOBBYING FOR INSURANCE INDUSTRY · NC
Directly controlled by IIANC
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.
-
NC ASSOCIATION OF INSURANCE AGENTS INC
C · INSURANCE SALES · NC · 100% owned
-
IIANC MEMBER SERVICES INC
C · PROVIDE INSURANCE PRODUCTS & ADVERTISING · NC · 100% owned · share of assets $4,024,833
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 28 March 2024
- IRS schema version
- 2022v5.0
- Source object
- 202440889349300749
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