Insurance Industry Charitable Foundation Inc
Insurance Industry Charitable Foundation maintains stable finances with no reported officer compensation.
EIN: 201240972 · Los Angeles, CA · NTEE: T30 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $9.4M |
| Total Expenses | $6.5M |
| Program Spending | 80% |
| Net Assets | $3.3M |
| Transparency Score | 85/100 |
Is Insurance Industry Charitable Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Insurance Industry Charitable Foundation Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Insurance Industry Charitable Foundation Inc
Insurance Industry Charitable Foundation Inc (EIN: 201240972) is a nonprofit organization based in Los Angeles, CA, classified under NTEE code T30. The organization reported total revenue of $9.4M and total assets of $4.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Insurance Industry Charitable Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Insurance Industry Charitable Foundation Inc is a mid-size nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 8.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $6.4M |
| Total Expenses | $6.5M |
| Surplus / Deficit | $-89,276 |
| Total Assets | $4.3M |
| Total Liabilities | $1.0M |
| Net Assets | $3.3M |
| Operating Margin | -1.4% |
| Debt-to-Asset Ratio | 24.3% |
| Months of Reserves | 8.0 months |
Financial Health Grade: B
In 2023, Insurance Industry Charitable Foundation Inc reported a deficit of $89K with expenses exceeding revenue, holds 8.0 months of operating reserves (strong position), has a debt-to-asset ratio of 24.3% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Insurance Industry Charitable Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 8.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +9.6% | +11.3% | +2.2% |
| 2022 | -3.0% | +6.7% | -5.1% |
| 2021 | +9.0% | +6.0% | +11.8% |
| 2020 | +23.1% | +6.3% | +27.0% |
| 2019 | -15.4% | +4.3% | -12.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Insurance Industry Charitable Foundation Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 80%
- fundraising: 10%
According to IRS 990 filings, Insurance Industry Charitable Foundation Inc allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $89K, with expenses exceeding revenue.
- Debt-to-asset ratio: 24.3%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that its leadership may be entirely volunteer-based or that executive compensation is categorized differently, which is a strong positive for donor confidence regarding executive pay.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Insurance Industry Charitable Foundation Inc's IRS 990 filings:
- Lack of detailed expense breakdown (program vs. admin vs. fundraising) in provided summary data.
Strengths
The following positive indicators were identified for Insurance Industry Charitable Foundation Inc:
- Consistent revenue generation, with latest revenue at $9,441,046.
- Stable and growing asset base, reaching $4,317,236 in 2023.
- No reported officer compensation across all available filings, indicating efficient use of funds for leadership.
- Consistent IRS 990 filing history (13 filings), demonstrating transparency and compliance.
- Positive net assets (Assets exceed Liabilities) in all reported periods, indicating financial stability.
Frequently Asked Questions about Insurance Industry Charitable Foundation Inc
Is Insurance Industry Charitable Foundation Inc a legitimate charity?
Insurance Industry Charitable Foundation Inc (EIN: 201240972) is a registered tax-exempt nonprofit based in California. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $9.4M. 1 red flag identified. 5 strengths noted. Financial health grade: B.
How does Insurance Industry Charitable Foundation Inc spend its money?
Insurance Industry Charitable Foundation Inc directs 80% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Insurance Industry Charitable Foundation Inc tax-deductible?
Insurance Industry Charitable Foundation Inc is registered as a tax-exempt nonprofit (EIN: 201240972). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Insurance Industry Charitable Foundation Inc's spending goes to programs?
Insurance Industry Charitable Foundation Inc directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Insurance Industry Charitable Foundation Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Insurance Industry Charitable Foundation Inc is above average for NTEE category T30 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Insurance Industry Charitable Foundation Inc located?
Insurance Industry Charitable Foundation Inc is headquartered in Los Angeles, California and files with the IRS under EIN 201240972. It is classified under NTEE code T30.
How many years of IRS 990 filings does Insurance Industry Charitable Foundation Inc have?
Insurance Industry Charitable Foundation Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $9.4M in total revenue.
How does IICF allocate its expenses between program services, administration, and fundraising?
While the filings show total expenses, a detailed breakdown of program, administrative, and fundraising costs is not explicitly provided in the summary data, making it difficult to assess spending efficiency directly from these figures.
What is the nature of the '0% Officer Comp' reported across all filings?
The consistent reporting of 0% officer compensation suggests either a fully volunteer executive leadership or that executive compensation is reported under a different category, which would require further investigation of the full 990 forms for clarity.
Has the organization experienced significant growth in its program activities?
The organization's revenue has grown from $4,218,275 in 2014 to $6,425,441 in 2023 (and $9,441,046 in its latest reported period), suggesting an increase in capacity that likely supports expanded program activities, though specific program metrics are not available here.
Filing History
IRS 990 filing history for Insurance Industry Charitable Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Insurance Industry Charitable Foundation Inc's revenue has grown by 173.4%, moving from $2.4M to $6.4M. Total assets increased by 44.8% over the same period, from $3.0M to $4.3M. Total functional expenses rose by 168.3%, from $2.4M to $6.5M. In its most recent filing year (2023), Insurance Industry Charitable Foundation Inc reported a deficit of $89K, with expenses exceeding revenue. The organization holds $1.0M in liabilities against $4.3M in assets (debt-to-asset ratio: 24.3%), resulting in net assets of $3.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $6.4M | $6.5M | $4.3M | $1.0M | — | — |
| 2022 | $5.9M | $5.9M | $4.2M | $893K | — | View 990 |
| 2021 | $6.0M | $5.5M | $4.5M | $924K | — | View 990 |
| 2020 | $5.5M | $5.2M | $4.0M | $1.1M | — | View 990 |
| 2019 | $4.5M | $4.9M | $3.1M | $655K | — | View 990 |
| 2018 | $5.3M | $4.7M | $3.6M | $929K | — | View 990 |
| 2017 | $5.1M | $5.1M | $3.3M | $1.2M | — | View 990 |
| 2016 | $4.3M | $5.3M | $3.9M | $1.8M | — | View 990 |
| 2015 | $4.4M | $4.7M | $3.7M | $620K | — | View 990 |
| 2014 | $4.2M | $4.4M | $3.9M | $422K | — | View 990 |
| 2013 | $3.9M | $3.7M | $4.0M | $383K | — | View 990 |
| 2012 | $3.2M | $2.9M | $3.6M | $304K | — | View 990 |
| 2011 | $2.4M | $2.4M | $3.0M | $24K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $6.4M, expenses of $6.5M, and assets of $4.3M (revenue +9.6% year-over-year).
- 2022: Revenue of $5.9M, expenses of $5.9M, and assets of $4.2M (revenue -3.0% year-over-year).
- 2021: Revenue of $6.0M, expenses of $5.5M, and assets of $4.5M (revenue +9.0% year-over-year).
- 2020: Revenue of $5.5M, expenses of $5.2M, and assets of $4.0M (revenue +23.1% year-over-year).
- 2019: Revenue of $4.5M, expenses of $4.9M, and assets of $3.1M (revenue -15.4% year-over-year).
- 2018: Revenue of $5.3M, expenses of $4.7M, and assets of $3.6M (revenue +4.8% year-over-year).
- 2017: Revenue of $5.1M, expenses of $5.1M, and assets of $3.3M (revenue +17.2% year-over-year).
- 2016: Revenue of $4.3M, expenses of $5.3M, and assets of $3.9M (revenue -1.6% year-over-year).
- 2015: Revenue of $4.4M, expenses of $4.7M, and assets of $3.7M (revenue +4.5% year-over-year).
- 2014: Revenue of $4.2M, expenses of $4.4M, and assets of $3.9M (revenue +7.5% year-over-year).
- 2013: Revenue of $3.9M, expenses of $3.7M, and assets of $4.0M (revenue +23.1% year-over-year).
- 2012: Revenue of $3.2M, expenses of $2.9M, and assets of $3.6M (revenue +35.7% year-over-year).
- 2011: Revenue of $2.4M, expenses of $2.4M, and assets of $3.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Insurance Industry Charitable Foundation Inc:
Data Sources and Methodology
This transparency report for Insurance Industry Charitable Foundation Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.