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← INSURANCE ACCOUNTING & SYSTEMS ASSOCIATION INC

Form 990 for tax year 2023

Filed by INSURANCE ACCOUNTING & SYSTEMS ASSOCIATION INC.

Totals

Total revenue
$1,204,075
Total expenses
$2,252,888
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,077,709
Investment income
$36,648
Other revenue
$89,718
Total assets, end of year
$92,464
Total liabilities, end of year
$1,550,482
Net assets or fund balances, end of year
-$1,458,018
Program services expenses (Part IX)
$1,820,220
Management and general expenses
$432,668
Fundraising expenses
$0
Program service expenses (Part III)
$1,820,220

Program services were 80.8% 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: EDUCATION EVENTS

    total $601,059 · related or exempt $601,059

  • 2b · Program service revenue: MEMBERSHIP DUES

    total $476,650 · related or exempt $476,650

  • 3 · Investment income

    total $1,484 · excluded $1,484

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

    total $0

  • 5 · Royalties

    total $0

  • 6a · Gross rents

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    securities $479,032

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

    securities $443,868

  • 7c · Gain or loss

    securities $35,164

  • 7d · Net gain or loss

    total $35,164 · excluded $35,164

  • 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

    $23,763

  • 10b · Cost of goods sold

    $5,888

  • 10c · Net income from sales of inventory

    total $17,875

  • 11a · Other revenue: CHAPTER ADMINISTRATION

    total $47,090 · related or exempt $47,090

  • 11b · Other revenue: MISCELLANEOUS

    total $24,753 · related or exempt $24,753

  • 11e · Other revenue, total

    $71,843

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 $58,164 · program services $14,541 · management and general $43,623

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $156,399 · program services $86,020 · management and general $70,379

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $24,720 · program services $12,704 · management and general $12,016

  • 10 · Payroll taxes

    total $12,471 · program services $5,940 · management and general $6,531

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $69,291 · management and general $69,291

  • 11c · Fees: accounting

    total $12,614 · management and general $12,614

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $940 · management and general $940

  • 11g · Fees: other

    total $44,674 · management and general $44,674

  • 12 · Advertising and promotion

    total $6,945 · program services $6,945

  • 13 · Office expenses

    total $11,194 · management and general $11,194

  • 14 · Information technology

    total $24,527 · program services $24,527

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $18,536 · program services $18,536

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $135,305 · management and general $135,305

  • 23 · Insurance

    total $7,480 · program services $3,969 · management and general $3,511

  • 24a · Other expenses: SHARED RESOURCE SERVICES

    total $1,636,466 · program services $1,636,466

  • 24b · Other expenses: BANK CHARGES

    total $18,632 · management and general $18,632

  • 24c · Other expenses: MISCELLANEOUS

    total $6,002 · program services $4,911 · management and general $1,091

  • 24d · Other expenses: EDUCATION RELATED

    total $5,432 · program services $5,432

  • 24e · All other expenses

    total $3,096 · program services $229 · management and general $2,867

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $200,798 · end of year $92,464

  • 2 · Savings and temporary cash investments

    beginning of year $14,989 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 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 $5,888 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

  • 10c · Land, buildings and equipment, net

    beginning of year $64,325 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $341,915 · 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 $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $432,445 · end of year $1,327,239

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $253,407 · end of year $223,243

  • 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 $146,242 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $205,026 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year -$409,205 · end of year -$1,458,018

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

THE IASA COMMUNITY ACCELERATES PROFESSIONAL GROWTH TO SHAPE, INFLUENCE, ELEVATE AND STRENGTHEN THE INSURANCE INDUSTRY. SEE IASA WEBSITE FOR UPDATED VISION AND WHAT WE DO. HTTPS://WWW.IASA.ORG/ABOUT-US/

Activities or mission (Part I)

TO SHAPE, INFLUENCE, ELEVATE AND STRENGTHEN THE INSURANCE INDUSTRY THROUGH PROFESSIONAL GROWTH.

  • IASA IS A NON-PROFIT 501(C)(3) THAT CONTINUOUSLY FOSTERS AN ENVIRONMENT OF SELFLESS ENGAGEMENT, INCLUSIVITY, AND CONVICTION, AS WELL AS ADVANCES CAREERS AND THE PERSONAL GROWTH OF OUR MEMBERS AND CONSTITUENTS. WE PRODUCE THE BEST EDUCATION AND LEARNING OPPORTUNITIES IN AN OPEN AND SHARING ENVIRONMENT THROUGH OUR EXCEPTIONAL LEADERSHIP THAT PROMOTES EXCELLENCE, COLLABORATION, INNOVATION, AND COMMUNITY ENGAGEMENT.

    Expenses $1,820,220 · Revenue $1,149,552

As filed on the 2023 return.

Listed in Part VII

  • Peter L Miller

    PRESIDENT & CEO (BEG OCT 2023)

    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
    $0 + $1,000,000 related
    Other
    $0 + $2,376 related
    Deferred
    $0 + $204,613 related
    Nontaxable benefits
    $0 + $15,984 related
    Filer's total
    $0 + $2,437,369 related

  • Katherine Horowitz

    SECRETARY (BEG OCT 2023)

    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
    $0 + $375,000 related
    Other
    $0 + $8,437 related
    Deferred
    $0 + $48,000 related
    Nontaxable benefits
    $0 + $14,870 related
    Filer's total
    $0 + $993,683 related

  • Jeffrey A Scheidt

    TREASURER (BEG OCT 2023)

    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
    $0 + $112,000 related
    Other
    $0 + $2,376 related
    Deferred
    $0 + $52,800 related
    Nontaxable benefits
    $0 + $16,087 related
    Filer's total
    $0 + $566,648 related

  • Kerry Crockett

    CEO (END OCT 2023)

    Total calculated
    $231,488
    From this org
    $155,697
    From related orgs
    $44,790
    Other
    $31,001
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $155,697 + $44,467 related
    Bonus
    $0
    Other
    $0 + $323 related
    Deferred
    $21,000
    Nontaxable benefits
    $7,337 + $2,664 related
    Filer's total
    $184,034 + $47,454 related

  • Jason Nickles

    MEMBER-AT-LARGE (END OCT 2023)

    Total calculated
    $0
    Hours/week
    2

  • Doug Ramsey

    BOARD CHAIR (END OCT 2023)

    Total calculated
    $0
    Hours/week
    2

  • Terry Olejnik

    CHAIR-ELECT (END OCT 2023)

    Total calculated
    $0
    Hours/week
    2

  • Dan Buttke

    MEMBER-AT-LARGE (END OCT 2023)

    Total calculated
    $0
    Hours/week
    2

  • Elise Farnham

    MEMBER-AT-LARGE (END OCT 2023)

    Total calculated
    $0
    Hours/week
    2

  • Ryan Hanson

    MEMBER-AT-LARGE (END OCT 2023)

    Total calculated
    $0
    Hours/week
    2

  • Rod Van Genderen

    SECRETARY-TREAS (END OCT 2023)

    Total calculated
    $0
    Hours/week
    2

  • Kristine Weber

    MEMBER-AT-LARGE (END OCT 2023)

    Total calculated
    $0
    Hours/week
    2

  • Claire Burke

    MEMBER-AT-LARGE (END OCT 2023)

    Total calculated
    $0
    Hours/week
    2

  • Anna M Kooi

    MEMBER-AT-LARGE (END OCT 2023)

    Total calculated
    $0
    Hours/week
    2

  • Wesley McLeod

    MEMBER-AT-LARGE (END OCT 2023)

    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
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

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 THE 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
8 November 2024
IRS schema version
2023v5.1
Source object
202433139349303458

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