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Insurance Legislators Foundation INC

Tax-deductible

Belmar, NJ501(c)(3)UnclassifiedEIN 39-1781696Revenue $241K in FY2024

On file with the IRS616 Fifth Ave, 07719-2162 · Belmar, NJTax-exempt since Jul 1994Publicly supported charity — 170(b)(1)(A)(vi)

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The Insurance Legislators Foundation (ILF) is a non-stock, non-profit formed in 1993. The purpose of the organization as stated in its bylaws includes, in part, educating and informing legislators on public policy arising from insurance-related legislation & regulation.

501(c)(3) charity; gifts are tax-deductible.
72¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 2
filings with a surplus
Average surplus $51K a year · 23% of revenue · last 2 filings
Looks good: a surplus in 2 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
72%
of spending
Fine: 72% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
10 mo
of spending, in cash
Looks good: 10.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $55K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$27K
14% of total assets
Looks good: liabilities are 14% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$241K
+13% vs prior year
Spent
$226K
To programs
72%
Net assets
$163K
By yearFY2020–FY2024
Revenue
$241K
FY2024▲ +13%
Tap a bar for its year
Revenue by fiscal year
FY2020$145K
FY2021$116K
FY2022$139K
FY2023$214K
FY2024$241K
Expenses
$226K
FY2024▲ +80%
Tap a bar for its year
Expenses by fiscal year
FY2020Not on file
FY2021Not on file
FY2022Not on file
FY2023$126K
FY2024$226K
Net assets
$163K
FY2024▲ +10%
Tap a bar for its year
Net assets by fiscal year
FY2020$48K
FY2021$21K
FY2022$60K
FY2023$148K
FY2024$163K

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 1994.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

72 cents of each dollar spent went to programs.

Program services 72% · $164K Management & general 8% · $18K Fundraising 19% · $44K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation
Tom Oliverson
President
$0Pt VII · Sec A
Pamela Hunter
Vice President
$0Pt VII · Sec A
Paul Utke
Treasurer
$0Pt VII · Sec A
Edmond Jordan
Secretary
$0Pt VII · Sec A
See Insurance Legislators Foundation INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Educates legislators on public policy from insurance laws and regulations.

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Provided by the organization

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1 program · $164K · in their own filed words · FY2024
01

Educate and inform legistlators on public policy issues arising from insurance-related legislation and regulation

$164Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Industry Education Council to Ncoil INCFY2025$55K
Total grants receivedfrom 1 funder$55K
Grants paid · 1 grant · $40K · 2023–2023
Unitemized GrantFY2023$40,278

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$241K
Ln 12
Gifts and grantsLn 1h$159K
Fees for servicesLn 2g$82K
Money outPt IX
$226K
Ln 25
Programscol B$164K
Managementcol C$18K
Fundraisingcol D$44K
Owns and owesPt X
$163K
net assets · Ln 32
Cash and savingsLn 1–2$189K
Total assetsLn 16$189K
LiabilitiesLn 26$27K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$159K
Fees for servicesLn 2g$82K
Total revenueLn 12$241K
Assets in detailPt X, end of year
CashLn 1$189K
Cash and savings togetherLn 1–2$189K
Total assetsLn 16$189K
LiabilitiesLn 26$27K
Net assetsLn 32$163K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$148K$189K
Total assetsLn 16$148K$189K
LiabilitiesLn 26$0$27K
Net assetsLn 32$148K$163K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$104K$104K
Management feesLn 11a$4K$3K$1K$0
TravelLn 17$15K$15K$0$0
Conferences, conventions and meetingsLn 19$42K$42K$0$0
Other expenses (24a–d)Ln 24$61K$0$17K$44K
Total functional expensesLn 25$226K$164K$18K$44K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $241K$226K$15K$163K 990 PDF
FY2023 $214K$126K$88K$148K 990 PDF
FY2022 $139K$60K 990 PDF
FY2021 $116K$21K 990 PDF
FY2020 $145K$48K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $240,963 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $172,383$159,187
I-9 Program service revenuePrior year $41,369$81,776
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $213,752$240,963
I-13 Grants and similar amounts paidPrior year $40,278$104,333
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $85,551$121,888
I-18 Total expensesPrior year $125,829$226,221
I-19 Revenue less expensesPrior year $87,923$14,742
Part VI · Governance 5 of 5 board members independent, 4 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $240,963 across 4 lines filed
Lines not itemized here account for $81,776 of total revenue; see the IRS return.
VIII-1d Related organizations$4,187
VIII-1f All other contributions, gifts and grants$155,000
VIII-1h Total contributions, gifts and grants$159,187
VIII-12 Total revenueRelated to mission $81,776 · Unrelated business $0 · Excluded from tax $0$240,963
Part IX · Statement of functional expenses $226,221 across 5 lines filed
IX-2 Grants to domestic individualsPrograms $104,333$104,333
IX-11a Management feesPrograms $2,722 · Management $1,465 · Fundraising $0$4,187
IX-17 TravelPrograms $15,353 · Management $0 · Fundraising $0$15,353
IX-19 Conferences, conventions and meetingsPrograms $41,500 · Management $0 · Fundraising $0$41,500
IX-24 Other expenses (24a–d)Programs $0 · Management $16,810 · Fundraising $44,038$60,848
IX-25 Total functional expensesPrograms $163,908 · Management $18,275 · Fundraising $44,038$226,221
Part X · Balance sheet $189,342 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $147,977$189,342
X-16 Total assetsStart of year $147,977$189,342
X-17 Accounts payable and accrued expensesStart of year $0$26,623
X-26 Total liabilitiesStart of year $0$26,623
X-27 Net assets without donor restrictionsStart of year $147,977$63,168
X-28 Net assets with donor restrictions$99,551
X-32 Total net assets or fund balancesStart of year $147,977$162,719
X-33 Total liabilities and net assetsStart of year $147,977$189,342
Part XI · Reconciliation of net assets $162,719 net assets at year end
XI-1 Total revenue$240,963
XI-2 Total expenses$226,221
XI-3 Revenue less expenses$14,742
XI-4 Net assets at start of year$147,977
XI-10 Net assets at end of year$162,719

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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