Form 990 for tax year 2023
Filed by INDEPENDENT INSURANCE AGENTS OF N CAROLINA INC.
Totals
- Total revenue
- $4,937,028
- Total expenses
- $3,995,209
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $4,506,902
- Investment income
- $163,345
- Other revenue
- $266,781
- Total assets, end of year
- $13,679,530
- Total liabilities, end of year
- $1,046,365
- Net assets or fund balances, end of year
- $12,633,165
- 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 $1,329,627 · related or exempt $1,329,627
-
2b · Program service revenue: EDUCATIONAL PROGRAMS
total $1,227,873 · related or exempt $1,227,873
-
2c · Program service revenue: MEMBER DUES
total $1,075,967 · related or exempt $1,075,967
-
2d · Program service revenue: PUBLIC EDUCATION
total $860,000 · related or exempt $860,000
-
2e · Program service revenue: SERVICE FEES
total $13,435 · related or exempt $13,435
-
3 · Investment income
total $149,997 · excluded $149,997
-
5 · Royalties
total $239,250 · excluded $239,250
-
7a · Gross sales of assets other than inventory
other assets $33,000
-
7b · Less cost or other basis and sales expenses
other assets $19,652
-
7c · Gain or loss
other assets $13,348
-
7d · Net gain or loss
total $13,348 · related or exempt $13,348
-
11a · Other revenue: MISCELLANEOUS
total $27,531 · related or exempt $27,531
-
11e · Other revenue, total
$27,531
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $305,880
-
7 · Other salaries and wages
total $557,601
-
8 · Pension plan contributions
total $65,004
-
9 · Other employee benefits
total $89,899
-
10 · Payroll taxes
total $59,057
-
11f · Fees: investment management
total $40,458
-
12 · Advertising and promotion
total $6,312
-
19 · Conferences, conventions and meetings
total $631,449
-
22 · Depreciation, depletion and amortization
total $245,858
-
24a · Other expenses: EDUCATIONAL PROGRAMS
total $807,947
-
24b · Other expenses: PUBLIC EDUCATION
total $542,748
-
24c · Other expenses: NATIONAL DUES
total $271,927
-
24d · Other expenses: BUILDING OPERATIONS
total $181,587
-
24e · All other expenses
total $189,482
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
end of year $1
-
2 · Savings and temporary cash investments
beginning of year $2,120,026 · end of year $1,599,666
-
4 · Accounts receivable
beginning of year $126,733 · end of year $230,910
-
9 · Prepaid expenses and deferred charges
beginning of year $86,166 · end of year $91,335
-
10a · Land, buildings and equipment: cost or other basis
$3,456,638
-
10b · Land, buildings and equipment: accumulated depreciation
$1,653,673
-
10c · Land, buildings and equipment, net
beginning of year $1,653,511 · end of year $1,802,965
-
11 · Investments: publicly traded securities
beginning of year $3,961,708 · end of year $4,770,574
-
15 · Other assets
beginning of year $4,328,457 · end of year $5,184,079
-
17 · Accounts payable and accrued expenses
beginning of year $553,667 · end of year $294,037
-
19 · Deferred revenue
beginning of year $860,527 · end of year $752,328
-
27 · Net assets without donor restrictions
beginning of year $10,147,907 · end of year $11,773,165
-
28 · Net assets with donor restrictions
beginning of year $714,500 · end of year $860,000
Mission and programs · 2023
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 2023 return.
Listed in Part VII
-
Karl SherrillKARL SHERRILL
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 5
-
Wortham BoyleWORTHAM BOYLE
CHAIRMAN ELECT
- Total calculated
- $0
- Hours/week
- 5
-
Don Stroud JrDON STROUD JR
TREASURER / SECRETARY
- Total calculated
- $0
- Hours/week
- 5
-
Daniel CookDANIEL COOK
NATIONAL DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Michelle O'ConnerMICHELLE O'CONNER
IMMEDIATE PAST CHAIR
- Total calculated
- $0
- Hours/week
- 5
-
Thomas RhodesTHOMAS RHODES
DIRECTOR - DISTRICT ONE
- Total calculated
- $0
- Hours/week
- 1
-
Darrin RankinDARRIN RANKIN
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
-
Christopher CookCHRISTOPHER COOK
DIRECTOR - AT LARGE
- Total calculated
- $0
- Hours/week
- 1
-
Oliver ConnerOLIVER CONNER
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
- $576,264
- From this org
- $0
- From related orgs
- $522,697
- Other
- $53,567
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $0 + $431,791 related
- Bonus
- $0 + $85,000 related
- Other
- $0 + $5,906 related
- Deferred
- $0 + $41,398 related
- Nontaxable benefits
- $0 + $12,169 related
- Filer's total
- $0 + $576,264 related
-
Brad FaulknerBRAD FAULKNER
CHIEF FINANCIAL OFFICER
- Total calculated
- $180,391
- From this org
- $0
- From related orgs
- $153,926
- Other
- $26,465
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $0 + $144,926 related
- Bonus
- $0 + $9,000 related
- Other
- $0
- Deferred
- $0 + $14,481 related
- Nontaxable benefits
- $0 + $11,984 related
- Filer's total
- $0 + $180,391 related
-
Rebecca ShigleyREBECCA SHIGLEY
CHIEF OPERATING OFFICER
- Total calculated
- $255,094
- From this org
- $0
- From related orgs
- $220,811
- Other
- $34,283
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $0 + $196,120 related
- Bonus
- $0 + $17,500 related
- Other
- $0 + $7,191 related
- Deferred
- $0 + $22,054 related
- Nontaxable benefits
- $0 + $12,229 related
- Filer's total
- $0 + $255,094 related
-
Joe StewartJOE STEWART
VICE PRESIDENT, GOVERNMENT
- Total calculated
- $208,972
- From this org
- $0
- From related orgs
- $179,750
- Other
- $29,222
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $0 + $165,826 related
- Bonus
- $0 + $8,000 related
- Other
- $0 + $5,924 related
- Deferred
- $0 + $16,994 related
- Nontaxable benefits
- $0 + $12,228 related
- Filer's total
- $0 + $208,972 related
-
Lisa WeatherlyLISA WEATHERLY
VICE PRESIDENT OF AGENCY OPERATIONS
- Total calculated
- $158,137
- From this org
- $0
- From related orgs
- $134,934
- Other
- $23,203
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $0 + $118,585 related
- Bonus
- $0 + $15,000 related
- Other
- $0 + $1,349 related
- Deferred
- $0 + $11,509 related
- Nontaxable benefits
- $0 + $11,694 related
- Filer's total
- $0 + $158,137 related
-
Jason SaboJASON SABO
DIRECTOR OF AGENCY DEVELOPMENT
- Total calculated
- $143,648
- From this org
- $0
- From related orgs
- $121,378
- Other
- $22,270
- Hours/week
- 40
-
Pat ClinePAT CLINE
MANAGING DIRECTOR, 101 WESTON LABS
- Total calculated
- $189,762
- From this org
- $0
- From related orgs
- $173,615
- Other
- $16,147
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $0 + $153,615 related
- Bonus
- $0 + $20,000 related
- Other
- $0
- Deferred
- $0 + $4,402 related
- Nontaxable benefits
- $0 + $11,745 related
- Filer's total
- $0 + $189,762 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 $4,514,672
-
101 WESTON LABS INC
C · INVESTMENTS · NC · 100% owned · share of assets $155,933
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 25 February 2025
- IRS schema version
- 2023v6.0
- Source object
- 202540649349301304
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