Overview
What is Acord Corporation?
Acord Corporation is a New Jersey-based not-for-profit organization that focuses on promoting the interests of and enhancing the efficiency and effectiveness of all trading partners within the insurance and related financial services industries. They achieve this by creating standards, specifications, and related implementation tools for the electronic exchange of information and other information processing. Acord's activities extend beyond internal industry operations, as they also serve the public interest and consumers of insurance and related financial services through analysis, education, standards setting, and research & development initiatives concerning the electronic exchange of information and information processing. The organization, with approximately 60 employees, is dedicated to fostering cooperation among various segments of the insurance industry and improving the overall experience for all involved.
Official website here: www.acord.org
Is Acord Corporation legitimate?
Acord Corporation is a legitimate nonprofit organization registered as a 501(c)(6) entity. Acord Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $4,829,212
Professional Fundraising Fees: $0
Other Salaries and Wages: $625,285
For more financial information, click here
Official website here: www.acord.org
What is the mission statement of Acord Corporation?
Acord Corporation is a not-for-profit organization dedicated to enhancing collaboration and efficiency among trading partners within the insurance and related financial services industries. By creating standards, specifications, and related implementation tools for the electronic exchange of information, Acord aims to streamline processes and improve effectiveness across various sectors. The organization's efforts extend beyond the industry, contributing to the public interest and consumer welfare through analysis, education, and research activities surrounding information processing.
Official website here: www.acord.org
Who is the CEO of Acord Corporation?
William Pieroni is the CEO of Acord Corporation The CEO's salary of Acord Corporation is $2,699,397 and their total compensation is $2,988,823.
Official website here: www.acord.org
What is the revenue of Acord Corporation?
Acord Corporation's revenue in 2023 was $30,932,486.
Official website here: www.acord.org
Who are the executives of Acord Corporation and what are their salaries?
The average compensation at Acord Corporation during 2023 was $97,402. There are 56 employees and 20 volunteers at Acord Corporation.
Here are 31 key members and their salaries (Acord Corporation's CEO's salary is $2,699,397 and their total compensation is $2,988,823):
- Compensation: $2,699,397
- Related: $0
- Other: $289,426
- Compensation: $0
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- Other: $0
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- Compensation: $548,044
- Related: $0
- Other: $69,980
- Compensation: $282,769
- Related: $0
- Other: $67,112
- Compensation: $292,304
- Related: $0
- Other: $46,056
- Compensation: $236,894
- Related: $0
- Other: $50,936
- Compensation: $190,670
- Related: $0
- Other: $55,624
- Compensation: $161,797
- Related: $0
- Other: $43,442
- Compensation: $153,649
- Related: $0
- Other: $25,777
- Compensation: $191,179
- Related: $0
- Other: $61,358
- Compensation: $148,326
- Related: $0
- Other: $43,981
- Compensation: $146,206
- Related: $0
- Other: $61,108
Official website here: www.acord.org
Where can I find the form 990 for Acord Corporation?
Acord Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.acord.org
Learn more at the official website: www.acord.org
Mission Statement of Acord Corporation
Acord Corporation, a not-for-profit organization, is dedicated to advancing the interests of all trading partners within the insurance and related financial services industries. By fostering improved efficiency and effectiveness, Acord Corporation plays a vital role in this sector. The corporation achieves this goal by developing standards, specifications, and related implementation tools for the electronic exchange of information and other information processing.
Acord Corporation serves the public interest and consumers of insurance and related financial services through analysis, education, and research & development activities concerning the electronic exchange of information and information processing. The organization's primary focus is on enhancing collaboration and communication among industry participants to streamline processes and optimize business operations. By setting standards, Acord Corporation ensures a consistent and interoperable approach to information exchange, ultimately benefiting all parties involved.
In essence, Acord Corporation acts as a catalyst for innovation and progress within the insurance and financial services industries. By providing a platform for the development and adoption of advanced technologies and best practices, the organization drives growth and efficiency. This, in turn, enables trading partners to offer better products and services to their customers, enhancing the overall industry landscape.
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Impact
October, 2024
Acord Corporation significantly influences the efficiency and effectiveness of trading partners within the insurance and related financial services sectors. By developing industry standards, specifications, and implementation tools for electronic information exchange, Acord enhances communication and operational workflows among stakeholders.
The organization plays a critical role in fostering collaboration among various market participants, leading to streamlined processes and improved data accuracy. Additionally, Acord's commitment to education and research supports consumer interests and promotes transparency in the industry. This comprehensive approach not only benefits professionals in the field but also enhances the overall experience for consumers interacting with insurance and financial services. Through its initiatives, Acord Corporation contributes to a more cohesive and responsive marketplace.
This information is meant to be a general summary of Acord Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $1,071,926
- Program Service Revenue: $29,849,099
- Gross Receipts: $31,913,274
Assets and Liabilities:
- Total Assets: $57,024,681
- Total Liabilities: $19,142,538
- Net Assets: $37,882,143
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEMBERSHIP DUES
Revenue
$18,700,319
PRODUCT AND OTHER SERVICES
Revenue
$5,800,396
SUBSCRIPTION FEES
Revenue
$5,348,384
Organization Details
Founding Year
1978
Principal Officer
William Pieroni
Website
www.acord.orgNTEE Category
Code: S41 - Community improvement
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