Insurance Institute Of America Inc in Malvern, Pennsylvania (PA)

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Insurance Institute Of America Inc
Employer Identification Number (EIN)136161017
Name of OrganizationInsurance Institute Of America Inc
Address720 Providence Road, Malvern, PA 19355-3449
ActivitiesOther school related activities
SubsectionEducational Organization
Ruling Date07/1938
DeductibilityContributions are deductible
FoundationOrganization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2008
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$73,576,954
Amount of Income$66,263,056
Form 990 Revenue Amount$14,521,553
National Taxonomy of Exempt Entities (NTEE)Mutual/Membership Benefit Organizations, Other: Insurance Providers, Services


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Amount of income in 2008: $66,263,056
Insurance Institute Of America Inc: 

 $66,263,056
Other organizations performing similar types of work: 

 $697,950

Assets in 2008: $73,576,954
This organization: 

 $73,576,954
Other organizations performing similar types of work: 

 $1,223,011

Expenses in 2007: $10,652,532
Insurance Institute Of America Inc: 

 $10,652,532
Other organizations performing similar types of work: 

 $14,980,965

Income to expenses ratio in 2007: 1.5
This organization: 

 1.5
Other organizations performing similar types of work: 

 1.0

Expenses allocated to program services in 2007: 93.8%
This organization: 

 93.8%
Other organizations performing similar types of work: 

 0.0%

Grants share in income in 2007: 3.6%
Insurance Institute Of America Inc: 

 3.6%
Other organizations performing similar types of work: 

 0.0%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Expenses for 2007

Functional Expenses for 2007 ($)

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20062007
Total revenue$16,537,553$15,973,371
Contributions, gifts, grants, and similar amounts received$0$579,405
Contributions to donor advised funds$0$0
Direct public support$0$579,405
Indirect public support$0$0
Government contributions (grants)$0$0
Program service revenue including government fees and contracts$16,482,042$11,149,177
Membership dues and assessments$0$0
Interest on savings and temporary cash investments$0$0
Dividends and interest from securities$0$1,299,768
Net rental income or (loss)$0$0
Gross rents$0$0
Less: rental expenses$0$0
Other investment income$0$0
Gain or (loss) from sales of assets other than inventory$0$2,468,704
Gross amount from sales of assets other than inventory$0$14,836,606
Less: cost or other basis and sales expenses$0$12,367,902
Net income or (loss) from special events and activities$0$0
Gross revenue$0$0
Less: direct expenses other than fundraising expenses$0$0
Gross profit or (loss) from sales of inventory$0$0
Gross sales of inventory, less returns and allowances$0$0
Less: cost of goods sold$0$0
Other revenue$55,511$476,317
Total expenses$13,479,564$10,652,532
Program services$12,717,166$9,996,246
Management and general$752,047$647,335
Fundraising$10,351$8,951
Payments to affiliates$0$0
Net assets or fund balances at end of year$58,214,595$58,246,227
Excess or (deficit) for the year$3,057,989$5,320,839
Net assets or fund balances at beginning of year$44,858,296$58,214,595
Other changes in net assets or fund balances$10,298,310$-5,289,207
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$10,652,532$9,996,246$647,335$8,951
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.$0$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$4,285,805$4,216,909$64,235$4,661
Pension plan contributions not included above$357,623$351,874$5,360$389
Employee benefits not included above$1,315,815$1,294,663$19,721$1,431
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$35,571$34,999$533$39
Legal fees$38,803$38,179$582$42
Supplies$132,747$130,613$1,990$144
Telephone$47,325$46,565$709$51
Postage and shipping$351,866$348,036$3,571$259
Occupancy$565,825$336,905$228,756$164
Equipment rental and maintenance$220,950$217,398$3,312$240
Printing and publications$144,101$141,785$2,160$156
Travel$181,702$178,781$2,723$198
Conferences, conventions, and meetings$297,263$292,485$4,455$323
Interest$0$0$0$0
Depreciation, depletion, etc.$544,793$247,336$297,457$0
Other expenses not covered above$2,132,343$2,119,718$11,771$854
Balance Sheets
20062007
Total assets$59,063,709$59,179,181
Cash - non-interest-bearing$0$0
Savings and temporary cash investments$0$0
Accounts receivable less allowance for doubtful accounts$0$0
Pledges receivable less allowance for doubtful accounts$0$0
Grants receivable$0$0
Receivables from current and former officers, directors, trustees, and key employees$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$0$0
Inventories for sale or use$510,669$571,051
Prepaid expenses and deferred charges$0$0
Investments - publicly-traded securities$0$0
Investments - other securities$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0
Investments - other$10,000$10,000
Land, buildings, and equipment less accumulated depreciation$0$0
Other assets, including program-related investments$58,543,040$58,598,130
Total liabilities$849,114$932,954
Accounts payable and accrued expenses$0$0
Grants payable$0$0
Deferred revenue$849,114$932,954
Loans from officers, directors, trustees, and key employees$0$0
Tax-exempt bond liabilities$0$0
Mortgages and other notes payable$0$0
Other liabilities$0$0
Total liabilities and net assets/fund balances$59,063,709$59,179,181
Total net assets or fund balances$58,214,595$58,246,227
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20062007
Total revenue$16,537,553$15,973,371
Total revenue, gains, and other support per audited financial statements$16,537,553$15,973,371
Other expenses$0$0
Net unrealized gains on investments$0$0
Donated services and use of facilities$0$0
Recoveries of prior year grants$0$0
Other$0$0
Other revenue$0$0
Investment expenses$0$0
Other$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20062007
Total expenses$13,479,564$10,652,532
Total expenses and losses per audited financial statements$13,479,564$10,652,532
Other revenue$0$0
Donated services and use of facilities$0$0
Prior year adjustments$0$0
Losses$0$0
Other$0$0
Other expenses$0$0
Investment expenses$0$0
Other$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings42
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?Yes
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?No
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?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
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?
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?
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?No
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, 20060
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$3,768,472$11,625,494
Program service revenue
Program service revenue 1000000$000$0$5,614,054
Program service revenue 2000000$000$0$5,405,017
Program service revenue 3000000$000$0$130,106
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
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)$1,299,768$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$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))$2,468,704$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$476,317
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?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
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 isOrganization that normally receives: less than 1/3 of its support from gross investment income and unrelated taxable business income and more than 1/3 of its support from contribution, membership fees
Support Schedule
20052006
Total$15,198,391$16,537,553
Gifts, grants, and contributions received$0$0
Membership fees received$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$15,198,391$16,537,553
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
Net income from unrelated business activities not included above$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$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
Other income$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
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Number of organizations performing similar types of work
Alabama1
Arizona1
California7
Colorado1
Connecticut1
Florida4
Hawaii1
Iowa2
Illinois6
Indiana2
Kansas1
Kentucky1
Massachusetts5
Michigan2
Minnesota4
Missouri1
Montana2
North Carolina2
Nebraska1
New Jersey5
New York11
Ohio2
Oklahoma1
Pennsylvania18
Rhode Island2
South Carolina4
Tennessee2
Texas2
Virginia1
Washington1
Wisconsin5
West Virginia2
Total101

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