Florida Insurance Council Inc in Tallahassee, Florida (FL)

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Florida Insurance Council Inc
Employer Identification Number (EIN)590996633
Name of OrganizationFlorida Insurance Council Inc
In Care of NameGail Saunders
Address150 S Monroe St Ste 206, Tallahassee, FL 32301-1561
ActivitiesBusiness promotion (chamber of commerce, business league, etc.)
SubsectionBoard of Trade
Ruling Date05/1996
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2011
Assets$100,000 to $499,999
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$330,253
Amount of Income$1,202,742
Form 990 Revenue Amount$1,199,266
National Taxonomy of Exempt Entities (NTEE)Mutual/Membership Benefit Organizations, Other: Professional Societies, Associations


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Amount of income in 2011: $1,202,742
Florida Insurance Council Inc: 

 $1,202,742
Other organizations performing similar types of work: 

 $713,150

Assets in 2011: $330,253
Florida Insurance Council Inc: 

 $330,253
Other organizations performing similar types of work: 

 $624,738

Expenses in 2004: $1,396,235
This organization: 

 $1,396,235
Other organizations performing similar types of work: 

 $1,809,151

Income to expenses ratio in 2004: 1.1
This organization: 

 1.1
Other organizations performing similar types of work: 

 1.1

Number of employees in 2004: 5
This organization: 

 5
Other organizations performing similar types of work: 

 35

Grants share in income in 2004: 0.9%
This organization: 

 0.9%
Other organizations performing similar types of work: 

 0.0%

Financial snapshot ($)

Revenue for 2004

Assets at end of 2004

Income-Producing Activities for 2004

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004
Total revenue$1,202,383$1,245,427$1,176,701$1,283,016$1,475,736
Contributions, gifts, grants, and similar amounts received$0$0$0$0$13,023
Contributions to donor advised funds
Direct public support$0$0$0$0$0
Indirect public support$0$0$0$0$0
Government contributions (grants)$0$0$0$0$13,023
Program service revenue including government fees and contracts$172,163$213,795$124,122$159,133$191,002
Membership dues and assessments$1,045,866$1,045,995$1,060,650$1,130,190$1,172,529
Interest on savings and temporary cash investments$11,873$3,322$897$481$601
Dividends and interest from securities$21$23$4$0$0
Net rental income or (loss)$-25,926$-18,261$-19,066$-14,557$5,068
Gross rents$104,797$111,152$108,172$111,890$119,200
Less: rental expenses$130,723$129,413$127,238$126,447$114,132
Other investment income$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$-4,898$0$0$-329$-1,240
Gross amount from sales of assets other than inventory$0$0$0$0$0
Less: cost or other basis and sales expenses$4,898$0$0$329$1,240
Net income or (loss) from special events and activities$0$0$0$0$0
Gross revenue$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0
Other revenue$3,284$553$10,094$8,098$94,753
Total expenses$1,402,634$1,302,573$1,341,986$1,255,660$1,396,235
Program services$0$0$0$0$0
Management and general$0$0$0$0$0
Fundraising$0$0$0$0$0
Payments to affiliates$0$0$0$0$0
Net assets or fund balances at end of year$-140,160$-190,768$-349,518$-315,628$-229,593
Excess or (deficit) for the year$-200,251$-57,146$-165,285$27,356$79,501
Net assets or fund balances at beginning of year$53,546$-140,160$-190,768$-349,518$-315,628
Other changes in net assets or fund balances$6,545$6,538$6,535$6,534$6,534
Statement of Functional Expenses (for 2004)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$1,396,235$0$0$0
Grants paid from donor advised funds
Other grants and allocations$850
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$233,736$0$0$0
Compensation of former officers, directors, key employees, etc.
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Salaries and wages of employees not included above$146,755$0$0$0
Pension plan contributions not included above$24,575$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$25,258$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$15,341$0$0$0
Legal fees$0$0$0$0
Supplies$9,958$0$0$0
Telephone$20,843$0$0$0
Postage and shipping$1,325$0$0$0
Occupancy$23,897$0$0$0
Equipment rental and maintenance$11,044$0$0$0
Printing and publications$3,455$0$0$0
Travel$71,224$0$0$0
Conferences, conventions, and meetings$191,818$0$0$0
Interest$94,529$0$0$0
Depreciation, depletion, etc.$45,650$0$0$0
Other expenses not covered above$475,977$0$0$0
Balance Sheets
20002001200220032004
Total assets$1,868,316$1,849,359$1,692,388$1,805,494$1,849,228
Cash - non-interest-bearing$93,102$121,827$72,772$131,540$200,851
Savings and temporary cash investments$63,904$76,857$45,370$154,902$131,187
Accounts receivable less allowance for doubtful accounts$22,133$12,962$10,265$4,222$43,615
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0
Grants receivable$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0
Prepaid expenses and deferred charges$4,523$14,561$3,608$6,836$9,109
Investments - publicly-traded securities
Investments - other securities$348$375$0$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0
Investments - other$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$1,663,441$1,605,541$1,547,133$1,500,433$1,457,289
Other assets, including program-related investments$20,865$17,236$13,240$7,561$7,177
Total liabilities$2,008,476$2,040,127$2,041,906$2,121,122$2,078,821
Accounts payable and accrued expenses$35,367$23,471$32,936$29,168$62,963
Grants payable$0$0$0$0$0
Deferred revenue$415,900$495,100$524,075$644,850$604,722
Loans from officers, directors, trustees, and key employees$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0
Mortgages and other notes payable$1,557,209$1,521,556$1,482,895$1,447,104$1,411,136
Other liabilities$0$0$2,000$0$0
Total liabilities and net assets/fund balances$1,868,316$1,849,359$1,692,388$1,805,494$1,849,228
Total net assets or fund balances$-140,160$-190,768$-349,518$-315,628$-229,593
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004
Total revenue$1,202,383$1,245,427$1,176,701$1,283,016$1,475,736
Total revenue, gains, and other support per audited financial statements$1,333,117$1,374,844$1,303,940$1,409,792$1,591,108
Other expenses$11$4$1$0$0
Net unrealized gains on investments$11$4$1$0$0
Donated services and use of facilities$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0
Other$0$0$0$0$0
Other revenue$-130,723$-129,413$-127,238$-126,776$-115,372
Investment expenses$0$0$0$0$0
Other$-130,723$-129,413$-127,238$-126,776$-115,372
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004
Total expenses$1,402,634$1,302,573$1,341,986$1,255,660$1,396,235
Total expenses and losses per audited financial statements$1,526,823$1,425,452$1,462,690$1,375,902$1,505,073
Other revenue$130,723$129,413$127,238$126,776$115,372
Donated services and use of facilities$0$0$0$0$0
Prior year adjustments$0$0$0$0$0
Losses$0$0$0$329$1,240
Other$130,723$129,413$127,238$126,447$114,132
Other expenses$6,534$6,534$6,534$6,534$6,534
Investment expenses$0$0$0$0$0
Other$6,534$6,534$6,534$6,534$6,534
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?
Does the organization have a written conflict of interest policy?
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?Yes
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?Yes
Were substantially all dues nondeductible by members?No
Did the organization make only in-house lobbying expenditures of $2,000 or less?No
Dues, assessments, and similar amounts from members$1,172,529
Section 162(e) lobbying and political expenditures$380,172
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$352,228
Taxable amount of lobbying and political expenditures$-27,944
Does the organization elect to pay the section 6033(e) tax on the amount above?No
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?Yes
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?
Did the organization acquire a direct or indirect interest in any applicable insurance contract?
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?
Number of employees employed in the pay period that includes March 12, 20065
Analysis of Income-Producing Activities (for 2004)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$4,926$76,623$1,381,164
Program service revenue
Program service revenue 1000000$000$0$30,670
Program service revenue 2000000$0Section 501(c)(3), (4), (5), or (6) organization - Qualified convention and trade show activity income (section 513(d)(3))$77,120$0
Program service revenue 3000000$000$0$14,184
Program service revenue 4000000$000$0$500
Program service revenue 5000000$000$0$68,528
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$1,172,529
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$601$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed propertyLessors of nonresidential buildings (except miniwarehouses)$4,926Real property rental income that does not depend on the income or profits derived by the person leasing the property and is excluded by section 512(b)(3)$142$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$-1,240$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$94,753
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2004)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2004)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2004)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
Enter the total number of donor advised funds owned at the end of the tax year
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year
Reason for Non-Private Foundation Status
The organization is not a private foundation because it is
Support Schedule
19992000200120022003
Total$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0
Membership fees received$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0
Other income$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2004)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?Yes
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$1,199,266
Contributions, Gifts, Grants and Other Similar Amounts$0
Program Service Revenue$1,189,094
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$1,031
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$6,000
Gross rents (Real / Personal)$6,000 / $0
Less: rental expenses (Real / Personal)$0 / $0
Rental income or (loss) (Real / Personal)$6,000 / $0
Net gain from sales of assets other than inventory$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$3,118
Gross sales of inventory, less returns and allowances$6,594
Less: cost of goods sold$3,476
Miscellaneous Revenue$23
Statement of Functional Expenses (for 2011)
Total functional expenses$1,203,424
Compensation of current officers, directors, trustees, and key employees$475,966
Other salaries and wages$112,958
Payroll taxes$30,432
Professional fundraising services$0
Other$584,068
Balance Sheet (for 2011)
Total assets$330,253
Total liabilities$464,581
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$464,581
Total net assets or fund balances$-134,328
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:Not provided
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IdNameAddressStateEstablishedTotal Income
1American Insurance Association2101 L St Nw Ste 400, Washington, DC 20037-1542DC1984-04$20,778,736
2Health Insurance Assn Of AmericaWashington, DC 20004DC$14,571,574
3Independent Insurance Agents And Brokers Of America IncAnd Brokers Of America Inc 127 S Pe, Alexandria, VA 22314VA1939-11$14,484,711
4Excess Line Association Of New YorkOne Exc Plza 55 Broadway 29 Fl, New York, NY 10006NY1990-04$7,738,345
5Professional Insurance Agents Of New York State IncPO BOX 997, Glenmont, NY 12077-0997NY1964-04$6,092,333
6Property Insurance Association Of Louisiana433 Metairie Rd Ste 400, Metairie, LA 70005-4343LA1950-08$4,657,331
7Insurance Agents And Brokers Of Pennsylvania Inc5050 Ritter Rd, Mechanicsburg, PA 17055-4879PA1946-11$3,057,766
8Insurance Marketplace Standards Association4550 Montgomery Ave Ste 700n, Bethesda, MD 20814-3264MD1997-12$2,321,625
9Missouri Association Of Insurance Agents3315 Emerald Ln, Jefferson Cty, MO 65109-6878MO1964-03$1,620,471
10Florida Insurance Council Inc150 S Monroe St Ste 206, Tallahassee, FL 32301-1561FL1996-05$1,202,742
11Independent Insurance Agents And Brokers Of Arizona Inc333 E Flower St, Phoenix, AZ 85012-2611AZ1941-09$713,150
12American Risk & Insurance Assn Inc716 Providence Rd, Malvern, PA 19355-3402PA1965-09$560,087
13Institute Of Home Office Life UnderwritersColumbus, OH 43235OH$347,784
14Naifa-Oklahoma City Inc4334 Nw Expressway, Oklahoma City, OK 73116-1578OK1949-07$56,640
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17National Association Of Christian Financial Consulting Inc1055 Maitland Center Commons Blvd, Maitland, FL 32751-7205FL2000-04$70,784
18American Payroll Association Of Acadiana LlcPO BOX 510, Youngsville, LA 70592-0510LA2007-03$4,155
19International Systems Security Engineering Association13873 Park Center Rd Ste 500, Herndon, VA 20171-3251VA2002-02$2,219
Number of organizations performing similar types of work
Arizona2
California1
District of Columbia2
Florida3
Georgia1
Illinois1
Louisiana3
Maryland1
Missouri1
Mississippi1
North Carolina1
New York2
Ohio4
Oklahoma1
Pennsylvania3
Tennessee1
Virginia2
Wisconsin1
Total31

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