Civic Intelligence

Insurance Accounting and Systems Association Inc

990 • Fiscal year 2018 • EIN 56-1526114

Jul 01, 2017 to Jun 30, 2018 • Filed on Oct 19, 2018

PO Box 51340Durham, NC 27717

(919) 489-0991

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

84th percentile

0.61x

Higher debt load relative to assets than 84% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

80th percentile

0.56x

Higher debt load relative to revenue than 80% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

12th percentile

-24%

Higher net margin than 12% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

91st percentile

$224,260

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 6.5% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

7th percentile

-18%

Faster asset growth than 7% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

24th percentile

-8.2%

Faster revenue growth than 24% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Down

$3,135,129

Down $678,338 (-18%) from 2017

Net Assets

Down

$1,215,012

Down $871,484 (-42%) from 2017

Liabilities

Up

$1,920,117

Up $193,146 (+11%) from 2017

Revenue

Down

$3,443,025

Down $309,112 (-8.2%) from 2017

Expenses

Up

$4,283,100

Up $412,549 (+11%) from 2017

Net Income

Down

-$840,075

Down $721,661 (-609%) from 2017

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$2.0M$0-$2.0MAssets 2013: $3,268,587Liabilities 2013: $1,520,817Net Assets 2013: $1,747,7702013Assets 2014: $2,768,566Liabilities 2014: $880,723Net Assets 2014: $1,887,8432014Assets 2015: $3,523,684Liabilities 2015: $1,593,112Net Assets 2015: $1,930,5722015Assets 2016: $3,376,177Liabilities 2016: $1,271,713Net Assets 2016: $2,104,4642016Assets 2017: $3,813,467Liabilities 2017: $1,726,971Net Assets 2017: $2,086,4962017Assets 2018: $3,135,129Liabilities 2018: $1,920,117Net Assets 2018: $1,215,0122018Assets 2019: $2,104,465Liabilities 2019: $1,021,584Net Assets 2019: $1,082,8812019Assets 2020: $1,962,437Liabilities 2020: $1,833,263Net Assets 2020: $129,1742020Assets 2021: $2,485,061Liabilities 2021: $1,654,213Net Assets 2021: $830,8482021Assets 2022: $1,485,537Liabilities 2022: $1,323,080Net Assets 2022: $162,4572022Assets 2023: $627,915Liabilities 2023: $1,037,120Net Assets 2023: -$409,2052023Assets 2024: $92,464Liabilities 2024: $1,550,482Net Assets 2024: -$1,458,0182024

Highlighted filing

2018

Assets$3,135,129
Liabilities$1,920,117
Net Assets$1,215,012

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2013: $3,617,201Expenses 2013: $3,552,855Net Income 2013: $64,3462013Revenue 2014: $3,856,167Expenses 2014: $3,716,094Net Income 2014: $140,0732014Revenue 2015: $4,013,922Expenses 2015: $3,971,193Net Income 2015: $42,7292015Revenue 2016: $4,140,283Expenses 2016: $3,918,748Net Income 2016: $221,5352016Revenue 2017: $3,752,137Expenses 2017: $3,870,551Net Income 2017: -$118,4142017Revenue 2018: $3,443,025Expenses 2018: $4,283,100Net Income 2018: -$840,0752018Revenue 2019: $3,226,361Expenses 2019: $3,398,800Net Income 2019: -$172,4392019Revenue 2020: $1,010,040Expenses 2020: $1,925,765Net Income 2020: -$915,7252020Revenue 2021: $2,113,010Expenses 2021: $1,573,185Net Income 2021: $539,8252021Revenue 2022: $2,339,018Expenses 2022: $2,781,262Net Income 2022: -$442,2442022Revenue 2023: $1,512,064Expenses 2023: $2,150,974Net Income 2023: -$638,9102023Revenue 2024: $1,204,075Expenses 2024: $2,252,888Net Income 2024: -$1,048,8132024

Highlighted filing

2018

Revenue$3,443,025
Expenses$4,283,100
Net Income-$840,075
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Oct 19, 2018
Return Version
2017v2.3
Gross Receipts
$3,562,739
Mission and Program Overview

Mission

The iasa community accelerates professional growth to shape, influence, elevate and strengthen the insurance industry. See iasa website for updated vision and what we do.https://www.iasa.org/about-us/

The mission of iasa is to initiate and facilitate the exchange of educational information and ideas among insurance related professionals to enhance the effectiveness of these individuals, their employers, and the financial services industry as a whole.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,286,424$2,350,544▲ $64,120
Cash and Non-Interest-Bearing Accounts$1,382,641$645,176▼ $737,465
Prepaid Expenses and Deferred Charges$77,886$62,350▼ $15,536
Land, Buildings, and Equipment, Net$47,608$48,651▲ $1,043
Savings and Temporary Cash Investments$4,645$16,151▲ $11,506
Inventories for Sale or Use$14,263$11,203▼ $3,060
Accounts Receivable-$1,054-
Total Assets$3,813,467$3,135,129▼ $678,338
Liabilities
Accounts Payable and Accrued Expenses$1,353,028$1,596,817▲ $243,789
Deferred Revenue$373,943$323,300▼ $50,643
Total Liabilities$1,726,971$1,920,117▲ $193,146
Net Assets / Fund Balance
Unrestricted Net Assets$2,086,496$1,215,012▼ $871,484
Total Net Assets Fund Balance$2,086,496$1,215,012▼ $871,484
Total Liabilities and Net Assets / Fund Balance$3,813,467$3,135,129▼ $678,338

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$30,642$132,035$162,677
Other Land Buildings$0$161,334$161,334
Leasehold Improvements$18,009$95,641$113,650
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Joe PomiliaExecutive DirectorFT$180,502$43,758$224,260
Eugene Charles GunkelVP of Business DevelopmentFT$141,950$37,290$179,240
Margaret MckeonVP of ConferenceFT$130,911$18,665$149,576
Rod TraversEvpFT$79,493$7,583$87,076

Board Members and Trustees

NameTitle
Tim MorganChair
Celeska FredianelliPresident
Beech TurnerPresident Elect
Carlos CorreaCFO
Anil ChackoCIO
Annette DevineMember-at-large
DARBY O'NEILLMember-at-large
Margaret HornMember-at-large
Ray HazelMember-at-large

Highest Paid Contractors

ContractorServicesLocationCompensation
MarriottConference Hotel10400 FERNWOOD ROAD, Bethesda, MA 20817-1102$834,733
Freeman Audio VisualShow DecoratorPO BOX 650519, Dallas, TX 75265-0519$330,842
Big SpeakConference Speakers23 SOUTH HOPE AVE, Santa Barbara, CA 93105$298,000
Swift Print CommunicationsPrinterPO BOX 28252, St Louis, MO 63132-0252$106,283
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,260,236
Investment Income
$122,830
Other Revenue
$59,959
Change in Net Assets
$-840,075

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,443,025
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$13,591
Total Revenue per Audited Statements
$3,456,616
Total Revenue per Form 990
$3,443,025
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,910,149
Salaries, Compensation, and Employee Benefits$1,349,951
Grants and Similar Amounts Paid$23,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Conferences and Meetings$1,609,466$232,557-$1,842,023
Current Officers, Directors, Trustees, and Key Employees-$738,750-$738,750
Other Salaries and Wages-$414,779-$414,779
Fees for Services Other$59,688$114,959-$174,647
Other Employee Benefits-$123,678-$123,678
Travel$18,326$101,361-$119,687
Occupancy$11,020$88,951-$99,971
Payroll Taxes-$72,744-$72,744
Information Technology$26,335$45,859-$72,194
All Other Expenses$34,861$34,890-$69,751
Other Expenses$46,099$21,851-$67,950
Advertising$18,741$25,999-$44,740
Office Expenses$2,367$36,875-$39,242
Insurance$9,671$18,614-$28,285
Grants to Domestic Individuals$23,000--$23,000
Depreciation Depletion-$19,360-$19,360
Total Functional Expenses$2,043,824$2,239,276$0$4,283,100

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$4,328,100
Expenses per Audited Statements$4,283,100
Total Expenses per Form 990$4,283,100
Expenses Not Reported on Form 990$45,000
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The 990 is reviewed by the executive director, who reports to the board of directors on the 990 filing.

Form 990, Part VI, Section B, Line 12C

Each officer must review and sign the conflict of interest form and disclose any conflicts that might exist. All conflict of interest forms, once signed, are reviewed by the secretary.

Form 990, Part VI, Section B, Line 15

The compensation committee, which is a subset of members of the board of directors, recommends all compensation for top executives using independent salary studies as a guide. The committee also assists in creating pay ranges for other staff members.

Form 990, Part VI, Section C, Line 19

Bylaws and board policies are provided on the iasa website. Financial statements, once audited, are distributed to our members and posted to the website. Conflict of interest policy and forms are maintained at our home office.

FORM 990, PART VII, LINE 1A:

Officer #5, rod travers, was board chair from 7/1/2017 through 7/16/2017 and then became executive vice president from 7/17/2017 through 6/30/2018.

Filing and Contact Details

Filer

Filer Name
Insurance Accounting and Systems
EIN
56-1526114
Phone
9194890991
Address
PO BOX 51340, DURHAM, NC 27717

Signing Officer

Name
Rod Travers
Title
Executive Director
Phone
9194890991
Signed
2018-10-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rod Travers
Formed
1994
Legal Domicile
Nc
Voting Board Members
11
Independent Board Members
9
Employees
10
Volunteers
181

Preparer

Firm
Blackman & Sloop Cpas Pa
Address
1414 RALEIGH RD SUITE 300, CHAPEL HILL, NC 27517
Preparer
Andrea Woodell Eason
Phone
9199428700
Supplemental Narrative

Additional Explanations

FORM 990, PAGE 1, LINE H(A):

This tax return is the return of the central organization of the insurance accounting and systems association, inc. As required under the provisions of internal revenue code regulation section 1.6033.2(d)(5)(i). Local chapters of the organization file a group return under fein 51-0220978 if the local chapters' revenues meet the threshold requirement for filing a 990.

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IRS990/Form990PartVIISectionAGrp/TitleTxt10EXECUTIVE DIRECTOR
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IRS990ScheduleA/InvestmentIncomePYPct00.01320
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/CurrentTaxYearMinus3YearsAmt058005

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