INSURANCE ACCOUNTING AND SYSTEMS ASSOCIATION INC

EIN: 561526114 501(c)(3)

MALVERN, PA

Total Revenue
$1,204,075
Total Expenses
$2,252,888
Total Assets
$92,464
Net Assets
$-1,458,018
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1986
Legal Domicile
NC
Principal Officer
JEFFREY A SCHEIDT
Phone
6106442100
Tax Period
2023-07-01 to 2024-06-30

INSURANCE ACCOUNTING AND SYSTEMS ASSOCIATION INC, founded in 1986, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2023. Revenue fell 20% from the prior year — a significant decline worth monitoring. Expenses of $2.3M exceeded revenue, resulting in a 87% operating deficit.

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/

Program Service Accomplishments

Program 1
Expenses: $1,820,220 Revenue: $1,149,552

IASA IS A NON-PROFIT 501(C)(3) THAT CONTINUOUSLY FOSTERS AN ENVIRONMENT OF SELFLESS ENGAGEMENT, INCLUSIVITY, AND CONVICTION, AS WELL AS ADVANCES CAREERS AND THE PERSONAL GROWTH OF OUR MEMBERS AND...

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IASA IS A NON-PROFIT 501(C)(3) THAT CONTINUOUSLY FOSTERS AN ENVIRONMENT OF SELFLESS ENGAGEMENT, INCLUSIVITY, AND CONVICTION, AS WELL AS ADVANCES CAREERS AND THE PERSONAL GROWTH OF OUR MEMBERS AND CONSTITUENTS. WE PRODUCE THE BEST EDUCATION AND LEARNING OPPORTUNITIES IN AN OPEN AND SHARING ENVIRONMENT THROUGH OUR EXCEPTIONAL LEADERSHIP THAT PROMOTES EXCELLENCE, COLLABORATION, INNOVATION, AND COMMUNITY ENGAGEMENT.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,077,709
Investment Income $36,648
Other Revenue $89,718
TOTAL REVENUE $1,204,075

Expense Breakdown

Grants Paid $0
Salaries & Benefits $251,754
Fundraising Expenses $0
Program Expenses $1,820,220
Other Expenses $2,001,134
TOTAL EXPENSES $2,252,888

Year-over-Year Comparison

2023 2022 Change
Revenue $1,204,075 $1,512,064 -0.2%
Expenses $2,252,888 $2,150,974 +0.0%
Net Income $-1,048,813 $-638,910 +0.6%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

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Liquidity & Cash Position

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Governance

Voting Members
3
Independent Members
N/A
Employees
8
Volunteers
65

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
7
$4,229,188
Total Directors
14
$3,997,700
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PETER L MILLER PRESIDENT & CEO (BEG OCT 2023) 2.0
Officer Director
$0 $220,597 $2,437,369
KATHERINE HOROWITZ SECRETARY (BEG OCT 2023) 2.0
Officer Director
$0 $62,870 $993,683
JEFFREY A SCHEIDT TREASURER (BEG OCT 2023) 2.0
Officer Director
$0 $68,887 $566,648
KERRY CROCKETT CEO (END OCT 2023) 40.0
Officer
$155,697 $31,001 $231,488
JASON NICKLES MEMBER-AT-LARGE (END OCT 2023) 2.0
Director
$0 $0 $0
DOUG RAMSEY BOARD CHAIR (END OCT 2023) 2.0
Officer Director
$0 $0 $0
TERRY OLEJNIK CHAIR-ELECT (END OCT 2023) 2.0
Officer Director
$0 $0 $0
DAN BUTTKE MEMBER-AT-LARGE (END OCT 2023) 2.0
Director
$0 $0 $0
ELISE FARNHAM MEMBER-AT-LARGE (END OCT 2023) 2.0
Director
$0 $0 $0
RYAN HANSON MEMBER-AT-LARGE (END OCT 2023) 2.0
Director
$0 $0 $0
ROD VAN GENDEREN SECRETARY-TREAS (END OCT 2023) 2.0
Officer Director
$0 $0 $0
KRISTINE WEBER MEMBER-AT-LARGE (END OCT 2023) 2.0
Director
$0 $0 $0
CLAIRE BURKE MEMBER-AT-LARGE (END OCT 2023) 2.0
Director
$0 $0 $0
ANNA M KOOI MEMBER-AT-LARGE (END OCT 2023) 2.0
Director
$0 $0 $0
WESLEY MCLEOD MEMBER-AT-LARGE (END OCT 2023) 2.0
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2024 $1,204,075 $2,252,888 $92,464 $-1,048,813
2023 $1,512,064 $2,150,974 $627,915 $-638,910
2022 $2,339,018 $2,781,262 $1,485,537 $-442,244
2021 $2,113,010 $1,573,185 $2,485,061 $539,825
2020 $1,010,040 $1,925,765 $1,962,437 $-915,725
2019 $3,226,361 $3,398,800 $2,104,465 $-172,439
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