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Nonprofiteer
← IIANC EDUCATION FOUNDATION INC

Form 990 for tax year 2023

Filed by IIANC EDUCATION FOUNDATION INC.

Totals

Total revenue
$1,251,712
Total expenses
$942,906
Contributions and grants received
$1,200,000
Grants paid
$937,243
Program service revenue
$0
Investment income
$51,712
Other revenue
$0
Total assets, end of year
$3,030,460
Total liabilities, end of year
$130,200
Net assets or fund balances, end of year
$2,900,260
Program services expenses (Part IX)
$937,243
Management and general expenses
$5,663
Fundraising expenses
$0
Program service expenses (Part III)
$937,243

Program services were 99.4% 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.

  • 1f · All other contributions, gifts and grants

    $1,200,000

  • 3 · Investment income

    total $49,532 · excluded $49,532

  • 7a · Gross sales of assets other than inventory

    securities $2,180

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

    securities $0

  • 7c · Gain or loss

    securities $2,180

  • 7d · Net gain or loss

    total $2,180 · excluded $2,180

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $937,243 · program services $937,243

  • 11g · Fees: other

    total $3,852 · management and general $3,852

  • 24a · Other expenses: BANK CHARGES

    total $1,811 · management and general $1,811

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,300,679 · end of year $1,600,111

  • 3 · Pledges and grants receivable

    beginning of year $1,300,000 · end of year $1,100,000

  • 11 · Investments: publicly traded securities

    end of year $330,349

  • 17 · Accounts payable and accrued expenses

    beginning of year $24,660 · end of year $130,200

  • 28 · Net assets with donor restrictions

    beginning of year $2,576,019 · end of year $2,900,260

Mission and programs · 2023

Mission

TO PROMOTE AND DEVELOP EDUCATION IN THE INSURANCE INDUSTRY.

  • TO PROVIDE INSURANCE INDUSTRY RELATED GRANTS AND SCHOLARSHIPS.

    Expenses $937,243 · Grants $937,243 · Revenue $1,200,000

As filed on the 2023 return.

Listed in Part VII

  • JESSICA MEDLIN

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • LAURA FALANGA

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • MICHAEL BETTERS

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    2

  • TOM MARSHALL

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ROBERT MCIVER

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MONTY ROSS

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • RAY TEDDER

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • RAQUEL TILLMAN

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JUSTIN LITAKER

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • AUBIE KNIGHT

    CHIEF EXECUTIVE OFFICER-IIANC

    Total calculated
    $0
    Hours/week
    2

  • BRAD FAULKNER

    CHIEF FINANCIAL OFFICER-IIANC

    Total calculated
    $0
    Hours/week
    2

  • REBECCA SHIGLEY

    CHIEF OPERATING OFFICER-IIANC

    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.

Grants 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.

Provenance

Return type
form_990
Tax year
2023
Filed
25 February 2025
IRS schema version
2023v6.0
Source object
202520719349301732

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