Insurance Educational Association FY2020 filing

Huntington Beach, CAUnknown exempt organization EIN 94-1227739Revenue $697K in FY2020

On file with the IRSieatraining.comPo Box 8035 · Huntington Beach, CA

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Iea creates and provides professional development and continuing education products and services in Insurance, risk management and disability management.

43¢ of each $1 spent went to programs.
$224K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2021
latest Form 990
Concern: the latest return is for FY2021, 5 tax years back; more than 4 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 2
filings with a surplus
Average surplus $38K a year · 7% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
43%
of spending
Concern: 43% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$224K
to officers and key staff · 24% of spending
Worth a look: pay to officers and key staff is 24% of spending; over 20%.
Pt VII · Sec A
<1 mo
of spending, in cash
Concern: 0.3 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$346K
×14 of total assets
Concern: liabilities are 1400% of assets; over 80%.
Pt X · Ln 26
Independent board members
10
of 11 voting members
Looks good: 10 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$697K
Spent
$941K
To programs
43%
Net assets
−$321K
By yearFY2020–FY2021
Revenue
$697K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$697K
FY2021$375K
Expenses
$941K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$941K
FY2021$54K
Net assets
−$321K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020−$321K
FY2021$0

From the FY2020 Form 990 (year ending June 2020) · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2021) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2021.

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

Where the money goes

43 cents of each dollar spent went to programs.

Program services 43% · $404K Management & general 57% · $538K

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

12 people listed on the 990; $224K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
President & CEO
$181,053Pt VII · Sec A
$43,400Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Co-Chairman
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2021FY2020
Regina Magee$98,671$181,053
Rob Redwitz—$43,400

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Insurance Educational Association 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 15aYes

Programs and updates

Offers professional development and education in insurance, risk, and disability management.

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Provided by the organization

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3 programs · $370K · in their own filed words · FY2019
01

A course of workers compensation insurance offered through a hybrid online, instructor led method; which combines online flexibility and the interplay of students and instructors in a live environment.

$330Kprogram expense
02

The second largest program is a course of disability insurance offered through a hybrid online, instructor led method; which combines online flexibility and the interplay of students and instructors in a live environment.

$25Kprogram expense
03

The third largest program is a course of property and casualty insurance offered through a hybrid online, instructor led method; which combines online flexibility and the interplay of students and instructors in a live environment.

$15Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 1 grant · $23K · 2019–2019
National Association of Insurance Women - San Francisco ChapterFY2019$22,939

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$697K
Ln 12
Fees for servicesLn 2g$695K
Investment incomeLn 3$2K
Money outPt IX
$941K
Ln 25
Programscol B$404K
Managementcol C$538K
Owns and owesPt X
−$321K
net assets · Ln 32
Cash and savingsLn 1–2$21K
Total assetsLn 16$26K
LiabilitiesLn 26$346K
PeoplePt VI, VII
12
listed · VII A
PaidVII A2
Voting boardVI 1a11
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$695K
Investment incomeLn 3$2K
Total revenueLn 12$697K
Assets in detailPt X, end of year
SavingsLn 2$21K
Cash and savings togetherLn 1–2$21K
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$26K
LiabilitiesLn 26$346K
Net assetsLn 32−$321K
OperationsPt I, VI
EmployeesI 54
VolunteersI 611
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$278K$21K
Land, buildings, equipmentLn 10c$2K$0
Total assetsLn 16$326K$26K
LiabilitiesLn 26$402K$346K
Net assetsLn 32−$76K−$321K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$23K$23K
Pay of current officers, directors and key staffLn 5$167K$50K$117K
Other salaries and wagesLn 7$180K$54K$126K
Other employee benefitsLn 9$88K$26K$62K
Payroll taxesLn 10$37K$11K$26K
Legal feesLn 11b$5K$5K
Accounting feesLn 11c$57K$57K
OccupancyLn 16$25K$7K$17K
TravelLn 17$3K$3K
Depreciation, depletion and amortizationLn 22$2K$2K
Other expenses (24a–d)Ln 24$239K$159K$79K
All other expensesLn 24e$114K$72K$42K
Total functional expensesLn 25$941K$404K$538K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Latest $375K$54K$321K$0 990 PDF
FY2020 Viewing $697K$941K−$244K−$321K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants J · Pay O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $697,094 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $902,667$694,855
I-10 Investment incomePrior year $1,664$2,239
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $904,331$697,094
I-13 Grants and similar amounts paidPrior year $0$22,939
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $497,857$472,750
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $514,378$445,718
I-18 Total expensesPrior year $1,012,235$941,407
I-19 Revenue less expensesPrior year −$107,904−$244,313
Part VI · Governance 10 of 11 board members independent, no flags
VI-1a Voting members of the governing body11
VI-1b Independent voting members10
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $697,094 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $694,855$694,855
VIII-3 Investment incomeRelated to mission $2,239$2,239
VIII-12 Total revenueRelated to mission $697,094 · Unrelated business $0 · Excluded from tax $0$697,094
Part IX · Statement of functional expenses $941,407 across 12 lines filed
IX-1 Grants to domestic organizationsPrograms $22,939$22,939
IX-5 Pay of current officers, directors and key staffPrograms $50,231 · Management $117,206$167,437
IX-7 Other salaries and wagesPrograms $54,051 · Management $126,118$180,169
IX-9 Other employee benefitsPrograms $26,374 · Management $61,540$87,914
IX-10 Payroll taxesPrograms $11,169 · Management $26,061$37,230
IX-11b Legal feesManagement $5,000$5,000
IX-11c Accounting feesManagement $57,417$57,417
IX-16 OccupancyPrograms $7,401 · Management $17,269$24,670
IX-17 TravelManagement $3,324$3,324
IX-22 Depreciation, depletion and amortizationManagement $2,447$2,447
IX-24 Other expenses (24a–d)Programs $159,467 · Management $79,235$238,702
IX-24e All other expensesPrograms $72,097 · Management $42,061$114,158
IX-25 Total functional expensesPrograms $403,729 · Management $537,678 · Fundraising $0$941,407
Part X · Balance sheet $25,733 assets, 13 lines filed
X-2 Savings and temporary cash investmentsStart of year $277,503$21,148
X-4 Accounts receivableStart of year $38,574$0
X-9 Prepaid expenses and deferred chargesStart of year $4,488$4,585
X-10c Land, buildings and equipment, netStart of year $2,447$0
X-15 Other assetsStart of year $3,086$0
X-16 Total assetsStart of year $326,098$25,733
X-17 Accounts payable and accrued expensesStart of year $71,969$16,807
X-25 Other liabilitiesStart of year $330,517$329,627
X-26 Total liabilitiesStart of year $402,486$346,434
X-27 Net assets without donor restrictionsStart of year −$99,327−$320,701
X-28 Net assets with donor restrictionsStart of year $22,939$0
X-32 Total net assets or fund balancesStart of year −$76,388−$320,701
X-33 Total liabilities and net assetsStart of year $326,098$25,733
Part XI · Reconciliation of net assets −$320,701 net assets at year end
XI-1 Total revenue$697,094
XI-2 Total expenses$941,407
XI-3 Revenue less expenses−$244,313
XI-4 Net assets at start of year−$76,388
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$320,701

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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