Life Office Management Association in Atlanta, Georgia (GA)

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Life Office Management Association
Employer Identification Number (EIN)581358009
Name of OrganizationLife Office Management Association
Address2300 Windy Ridge Parkway No 600, Atlanta, GA 30339-5665
ActivitiesOther matters
SubsectionBusiness League
Ruling Date05/1979
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2008
Assets$10,000,000 to $49,999,999
Income$10,000,000 to $49,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$27,378,981
Amount of Income$30,240,792
Form 990 Revenue Amount$22,984,877
National Taxonomy of Exempt Entities (NTEE)Mutual/Membership Benefit Organizations, Other: Professional Societies, Associations


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Amount of income in 2008: $30,240,792
Life Office Management Association: 

 $30,240,792
Other organizations performing similar types of work: 

 $3,851,490

Assets in 2008: $27,378,981
Life Office Management Association: 

 $27,378,981
Other organizations performing similar types of work: 

 $4,250,151

Expenses in 2007: $23,132,231
Life Office Management Association: 

 $23,132,231
Other organizations performing similar types of work: 

 $4,089,178

Income to expenses ratio in 2007: 1.0
Life Office Management Association: 

 1.0
Other organizations performing similar types of work: 

 1.1

Number of employees in 2007: 137
This organization: 

 137
Other organizations performing similar types of work: 

 21

Employees paid over $50,000 in 2007: 5.8%
This organization: 

 5.8%
Other organizations performing similar types of work: 

 1.6%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
200120022003200420062007
Total revenue$23,208,350$24,528,502$24,197,833$22,695,479$21,791,273$22,667,151
Contributions, gifts, grants, and similar amounts received$0$0$0$0$0$0
Contributions to donor advised funds$0$0
Direct public support$0$0$0$0$0$0
Indirect public support$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0
Program service revenue including government fees and contracts$17,497,743$18,552,269$18,029,594$14,254,774$15,113,990$16,024,508
Membership dues and assessments$3,560,025$3,758,428$4,159,876$3,891,514$4,284,294$4,347,126
Interest on savings and temporary cash investments$0$0$0$0$0$0
Dividends and interest from securities$1,153,768$1,049,378$956,144$860,588$890,851$1,014,625
Net rental income or (loss)$133,532$-60,590$133,532$133,532$0$0
Gross rents$133,532$135,291$133,532$133,532$0$0
Less: rental expenses$0$195,881$0$0$0$0
Other investment income$-63,433$150,914$107,597$10,741$0$0
Gain or (loss) from sales of assets other than inventory$4,825$100$500$0$0$30,620
Gross amount from sales of assets other than inventory$12,800$100$500$0$0$7,000,000
Less: cost or other basis and sales expenses$7,975$0$0$0$0$6,969,380
Net income or (loss) from special events and activities$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0
Other revenue$921,890$1,078,003$810,590$3,544,330$1,502,138$1,250,272
Total expenses$21,930,423$22,904,795$23,678,105$24,024,884$21,265,112$23,132,231
Program services$0$0$0$0$0$0
Management and general$0$0$0$0$0$0
Fundraising$0$0$0$0$0$0
Payments to affiliates$0$0$0$0$0$0
Net assets or fund balances at end of year$17,966,369$19,947,951$20,486,039$18,285,701$20,065,077$19,940,077
Excess or (deficit) for the year$1,277,927$1,623,707$519,728$-1,329,405$526,161$-465,080
Net assets or fund balances at beginning of year$16,212,048$17,966,369$19,947,951$20,486,039$19,574,552$20,065,077
Other changes in net assets or fund balances$476,394$357,875$18,360$-870,933$-35,636$340,080
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$23,132,231$0$0$0
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$1,593,627$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
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)$0$0$0$0
Salaries and wages of employees not included above$8,342,658$0$0$0
Pension plan contributions not included above$1,953,164$0$0$0
Employee benefits not included above$1,232,046$0$0$0
Payroll taxes$649,821$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$48,500$0$0$0
Legal fees$135,499$0$0$0
Supplies$0$0$0$0
Telephone$0$0$0$0
Postage and shipping$505,533$0$0$0
Occupancy$1,007,712$0$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$460,461$0$0$0
Travel$802,017$0$0$0
Conferences, conventions, and meetings$2,434,492$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$330,970$0$0$0
Other expenses not covered above$3,635,731$0$0$0
Balance Sheets
200120022003200420062007
Total assets$26,605,070$29,312,864$29,590,087$28,666,529$27,373,789$29,405,167
Cash - non-interest-bearing$2,141,001$3,689,725$2,105,157$1,922,427$5,730,923$3,711,516
Savings and temporary cash investments$0$0$0$0$0$0
Accounts receivable less allowance for doubtful accounts$1,477,563$2,005,331$2,347,349$4,387,250$4,684,650$4,716,308
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0
Grants receivable$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$1,801$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)$0$0
Other notes and loans receivable less allowance for doubtful accounts$1,625$0$0$0$0$0
Inventories for sale or use$1,371,599$1,489,658$1,437,981$1,619,511$834,457$857,480
Prepaid expenses and deferred charges$85,033$208,624$200,093$144,656$163,822$209,031
Investments - publicly-traded securities$13,381,413$16,157,777
Investments - other securities$17,115,898$18,073,531$20,072,574$17,508,819$1,892,634$3,156,542
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0
Investments - other$1,219,837$1,581,596$1,915,292$2,355,320$0$0
Land, buildings, and equipment less accumulated depreciation$2,806,385$2,011,636$1,509,079$728,496$685,890$596,513
Other assets, including program-related investments$386,129$250,962$2,562$50$0$0
Total liabilities$8,638,701$9,364,913$9,104,048$10,380,828$7,308,712$9,465,090
Accounts payable and accrued expenses$8,041,737$8,503,206$8,796,092$10,102,800$6,665,779$8,778,481
Grants payable$0$0$0$0$0$0
Deferred revenue$596,964$861,707$307,956$278,028$642,933$686,609
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0$0
Other liabilities$0$0$0$0$0$0
Total liabilities and net assets/fund balances$26,605,070$29,312,864$29,590,087$28,666,529$27,373,789$29,405,167
Total net assets or fund balances$17,966,369$19,947,951$20,486,039$18,285,701$20,065,077$19,940,077
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
200120022003200420062007
Total revenue$23,208,350$24,528,502$24,197,833$22,695,479$21,791,273$22,667,151
Total revenue, gains, and other support per audited financial statements$23,684,744$24,886,377$24,216,193$21,824,546$21,755,637$23,067,641
Other expenses$476,394$458,023$18,360$-870,933$-35,636$400,490
Net unrealized gains on investments$476,394$458,023$-611,606$-483,685$-35,636$340,080
Donated services and use of facilities$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0
Other$0$0$629,966$-387,248$0$60,410
Other revenue$0$100,148$0$0$0$0
Investment expenses$0$0$0$0$0$0
Other$0$100,148$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
200120022003200420062007
Total expenses$21,930,423$22,904,795$23,678,105$24,024,884$21,265,112$23,132,231
Total expenses and losses per audited financial statements$21,930,423$22,904,795$23,678,105$24,024,884$21,265,112$23,192,641
Other revenue$0$0$0$0$0$60,410
Donated services and use of facilities$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0
Losses$0$0$0$0$0$0
Other$0$0$0$0$0$60,410
Other expenses$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0
Other$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$472,902$9,000$56,835
40$194,032$6,979$2,098
40$154,419$5,887$1,949
40$152,252$6,084$9,506
40$130,246$5,203$1,106
40$107,513$4,098$3,158
40$143,678$5,741$3,098
40$113,187$4,521$135
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings1
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?No
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?No
Does the organization have a written conflict of interest policy?Yes
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?No
Were substantially all dues nondeductible by members?No
Did the organization make only in-house lobbying expenditures of $2,000 or less?Yes
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
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?No
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)?No
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?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 2006137
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$2,958,072$1,388,813$18,320,266
Program service revenue
Program service revenue 1000000$000$0$6,079,298
Program service revenue 2Exploited exempt activities$2,339,59100$0$2,691,441
Program service revenue 3000000$000$0$4,071,794
Program service revenue 4000000$0Section 501(c)(3), (4), (5), or (6) organization - Qualified convention and trade show activity income (section 513(d)(3))$385,294$0
Program service revenue 5Exploited exempt activities$131,84000$0$325,250
$0$0$6,079,298
Exploited exempt activities$2,339,591$0$2,691,441
$0$0$4,071,794
$0$0$325,250
Exploited exempt activities$131,840$0$0
$07$385,294$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$4,347,126
Interest on savings and temporary cash investments000000$000$0$0
Dividends and interest from securities000000$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)$1,014,625$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$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$000$0$30,620
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenueAdvertising and related services$486,641Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$-11,106$774,737
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
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 2007)
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$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
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$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it is
Support Schedule
200020012002200320052006
Total$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0
Membership fees received$0$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$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$0
Net income from unrelated business activities not included above$0$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$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$0
Other income$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
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
Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1American Bureau Of Shipping16855 Northchase Dr, Houston, TX 77060-6006TX1919-06$933,903,990
2Florida Workers Compensation Insurance Guaranty AssociationPO BOX 15159, Tallahassee, FL 32317-5159FL1998-05$303,493,260
3North Carolina Insurance5520 Dillard Drive, Cary, NC 27518-9237NC1971-04$131,929,127
4Pennsylvania Professional Liability Joint Underwriting Association2250 Hickory Rd Ste 125, Plymouth Mtng, PA 19462-2224PA1976-10$102,787,139
5American Council Of Life Insurance Inc101 Constitution Ave Nw, Washington, DC 20001-2133DC1977-03$45,355,581
6Aipso302 Central Ave, Johnston, RI 02919-4932RI1973-12$36,980,781
7Life Office Management Association2300 Windy Ridge Parkway No 600, Atlanta, GA 30339-5665GA1979-05$30,240,792
8Million Dollar Round Table Of The Natl Assn Of Life Underwriters325 W Touhy Ave, Park Ridge, IL 60068-4204IL1969-09$30,015,231
9Montana Comprehensive Health Association560 N Park Ave, Helena, MT 59601-2702MT1989-03$27,146,565
10National Insurance Producer Registry1100 Walnut St Ste 1500, Kansas City, MO 64106-2277MO1998-07$25,897,030
11Minnesota Insurance Guaranty Association7600 Parklawn Ave Ste 460, Edina, MN 55435-5137MN1973-06$20,869,867
12Alliance Of American InsurersDowners Grove, IL 60515IL$17,757,317
13North Carolina Joint Underwriting Association5520 Dillard Dr Ste 180, Cary, NC 27518-9280NC1971-04$16,940,366
14National Association Of Insurance And Financial Advisors2901 Telestar Ct 6th Fl, Falls Church, VA 22042-1260VA1942-10$16,515,991
15North Carolina Rate BureauPO BOX 176010, Raleigh, NC 27619-6010NC1979-07$14,834,636
16Risk And Insurance Management Society Inc, Alabama Chapter Of Rims1200 Urban Center Drive, Vestavia, AL 35242AL1960-08$13,635,942
17Council Of Insurance Agents & Brokers701 Pennsylvania Avenue Sw, Washington, DC 20004DC1942-10$13,413,522
18Automobile Insurers Bureau Of Massachusetts101 Arch St 7th Fl, Boston, MA 02110-1130MA1944-11$10,593,607
19American Association Of Insurance Services1745 S Naperville Rd, Wheaton, IL 60189-5897IL1975-05$9,406,716
20Professional Liability Underwriting Society5353 Wayzata Blvd, Minneapolis, MN 55416-1340MN1993-04$9,109,722
21Minnesota Workers Compensation Insurers Association Inc7701 France Ave S Ste 450, Edina, MN 55435-3203MN1985-07$7,924,620
22Illinois Fair Plan Association130 E Randolph St Ste 1350, Chicago, IL 60601-6207IL1970-01$6,064,130
23Guaranty Fund Management ServicesOne Bowdoin Sq 2nd Floor, Boston, MA 02114-2927MA$5,880,517
24Insured Retirement Institute IncSuite 825, Washington, DC 20005DC1992-06$5,705,194
25Florida Automobile Joint Underwriting Association302 Central Ave, Johnston, RI 02919-4932RI1975-09$5,496,076
26Massachussetts Association Of Insurance Agents Inc91 Cedar St, Milford, MA 01757-1178MA1993-09$5,297,413
27National Organization Of Life And Health Insurance Guaranty Assoctns13873 Park Center Rd Ste 329, Herndon, VA 20171-3247VA1997-07$5,141,241
28New Mexico Association Of Counties613 Old Santa Fe Trl, Santa Fe, NM 87505-0308NM1983-02$4,631,426
29Life And Health Insurance Foundation For Education1655 North Fort Meyer Dr 610, Arlington, VA 22209VA1996-03$4,525,412
30Professional Insurance Agents Of New JerseyPO BOX 997, Glenmont, NY 12077-0997NY1946-02$3,851,490
Number of organizations performing similar types of work
Alabama1
California8
District of Columbia3
Florida1
Georgia1
Iowa1
Illinois6
Indiana1
Kentucky1
Massachusetts3
Michigan1
Minnesota3
Missouri2
Mississippi1
Montana2
North Carolina4
New Jersey2
New Mexico1
Nevada1
New York3
Ohio2
Oklahoma1
Oregon1
Pennsylvania2
Rhode Island3
Texas3
Virginia4
Washington1
Total63

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