Overview
What is Insurance Industry Charitable Foundation?
The Insurance Industry Charitable Foundation is a nonprofit organization situated in Los Angeles, California. Its primary mission is to bolster designated charitable organizations by offering financial support and volunteer service. The foundation focuses on critical community needs in various sectors, including child abuse prevention and education, disaster preparedness and response, education and literacy programs, and health, safety, and human services. By leveraging the collective strengths of the insurance industry, the foundation aims to enrich lives and contribute positively to communities through grant distribution, volunteer work, and leadership. It currently employs a team of 13 individuals.
Official website here: www.iicf.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% - Four-Star out of Four Star rating
The Insurance Industry Charitable Foundation has achieved an impressive Four-Star rating from Charity Navigator, indicating a high level of accountability and financial health. With a score of 97%, the organization excels particularly in areas such as independent governance and financial oversight, showcasing a strong commitment to transparency and responsible management of funds.
Strengths include a fully independent board of 24 members and exemplary financial practices, as evidenced by their perfect scores in key areas such as program expense ratios and fundraising efficiency. Their overall financial stability is underscored by a low liabilities-to-assets ratio and a solid working capital ratio, which suggests that they are well-positioned to support their charitable programs efficiently.
While the ratings highlight numerous strengths, there are no noted limitations in the data provided, suggesting that the foundation operates effectively and adheres to high standards of accountability. This reinforces their reputation as a reliable nonprofit within the insurance industry sector.
This AI summary has been generated from information found on Charity Navigator.
Is Insurance Industry Charitable Foundation legitimate?
Insurance Industry Charitable Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Insurance Industry Charitable Foundation 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: $1,482,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $313,599
For more financial information, click here
Official website here: www.iicf.org
What is the mission statement of Insurance Industry Charitable Foundation?
The Insurance Industry Charitable Foundation aims to support communities and enhance lives by leveraging the collective strengths of the insurance industry. They achieve this objective by providing grants, volunteering services, and fostering leadership. The foundation's mission is to contribute to designated charitable organizations, specifically in the areas of child abuse prevention, education and awareness, disaster preparedness and response, education and literacy programs, and health, safety, and human services.
Official website here: www.iicf.org
Who is the CEO of Insurance Industry Charitable Foundation?
Anna Panoian is the Chief Financial Officer of Insurance Industry Charitable Foundation. The CEO's salary of Insurance Industry Charitable Foundation is $440,000 and their total compensation is $453,200.
Official website here: www.iicf.org
What is the revenue of Insurance Industry Charitable Foundation?
Insurance Industry Charitable Foundation's revenue in 2022 was $5,861,644.
Official website here: www.iicf.org
Who are the executives of Insurance Industry Charitable Foundation and what are their salaries?
The average compensation at Insurance Industry Charitable Foundation during 2022 was $138,123. There are 13 employees at Insurance Industry Charitable Foundation.
Here are 31 key members and their salaries (Insurance Industry Charitable Foundation's CEO's salary is $440,000 and their total compensation is $453,200):
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- Compensation: $137,000
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Official website here: www.iicf.org
Where can I find the form 990 for Insurance Industry Charitable Foundation?
Insurance Industry Charitable Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.iicf.org
Learn more at the official website: www.iicf.org
Mission Statement of Insurance Industry Charitable Foundation
The Insurance Industry Charitable Foundation, in its mission, aims to contribute to the betterment of communities and enrich lives by leveraging the collective power of the insurance industry. This is achieved through grant provisions, volunteer service, and leadership initiatives. The organization's primary objective is to support designated charitable organizations that address critical community needs. These focus areas include child abuse prevention, education and awareness; disaster preparedness and response; educational and literacy programs; and health, safety, and human services. The Insurance Industry Charitable Foundation seeks to make a significant impact by channeling the collective strengths of the insurance industry towards social causes, thereby enriching lives and strengthening communities.
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Impact
August, 2024
The Insurance Industry Charitable Foundation's impact is felt in communities across the country through its efforts to help meet critical needs in various focus areas. By leveraging the collective strengths of the insurance industry, the foundation provides grants, volunteer service, and leadership to support designated charitable organizations. These efforts contribute to initiatives such as child abuse prevention, education and literacy programs, disaster preparedness and response, as well as health, safety, and human services. Through its philanthropic endeavors, the foundation works to enrich lives and make a positive difference in the communities it serves.
This information is meant to be a general summary of Insurance Industry Charitable Foundation. 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 2022.
- Investment Income: $42,282
- Gross Receipts: $8,160,422
Assets and Liabilities:
- Total Assets: $4,224,831
- Total Liabilities: $892,734
- Net Assets: $3,332,097
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Organization Details
Founding Year
1994
Phone
(424) 253-1107Principal Officer
Anna Panoian
Main Address
2121 AVENUE OF THE STARS STE 800, LOS ANGELES, CA, 90067
Website
www.iicf.orgNTEE Category
Code: T30 - Philanthropy
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