Overview
What is Mississippi Surplus Lines Association?
The Mississippi Surplus Lines Association is a nonprofit organization situated in Flowood, Mississippi. Primarily, their focus lies in ensuring compliance with insurance regulations. They allocate a significant portion of their resources to this end, keeping their members informed about the existing and forthcoming regulations. The association's primary mission is to support the Mississippi Insurance Department in regulating the surplus lines market, ensuring that surplus lines agents adhere to the surplus lines laws of Mississippi. They have a small workforce of three individuals dedicated to carrying out these responsibilities.
Official website here: www.msla.org
Is Mississippi Surplus Lines Association legitimate?
Mississippi Surplus Lines Association is a legitimate nonprofit organization registered as a 501(c)(6) entity. Mississippi Surplus Lines Association 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: $148,389
Professional Fundraising Fees: $0
Other Salaries and Wages: $182,158
For more financial information, click here
Official website here: www.msla.org
What is the mission statement of Mississippi Surplus Lines Association?
The Mississippi Surplus Lines Association serves a vital role in assisting the Insurance Commissioner of Mississippi in regulating surplus lines insurance contracts. Their primary mission is to encourage compliance by surplus lines agents and insurers with the surplus lines laws of the state. The association dedicates its resources primarily towards ensuring statutory compliance, communicating regulations to its members, and aiding them in adhering to these regulations. Their efforts aim to maintain a well-regulated surplus lines market in Mississippi.
Official website here: www.msla.org
What is the revenue of Mississippi Surplus Lines Association?
Mississippi Surplus Lines Association's revenue in 2023 was $2,783,567.
Official website here: www.msla.org
Who are the executives of Mississippi Surplus Lines Association and what are their salaries?
The average compensation at Mississippi Surplus Lines Association during 2023 was $55,091. There are 6 employees and 8 volunteers at Mississippi Surplus Lines Association.
Here are 9 key members and their salaries:
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- Compensation: $142,682
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- Other: $5,707
Official website here: www.msla.org
Where can I find the form 990 for Mississippi Surplus Lines Association?
Mississippi Surplus Lines Association's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.msla.org
Learn more at the official website: www.msla.org
Mission Statement of Mississippi Surplus Lines Association
Mississippi Surplus Lines Association, abbreviated as MSLA, is dedicated to supporting the Mississippi Insurance Department in regulating the surplus lines market. Their primary mission is to encourage compliance with the surplus lines laws of Mississippi by both surplus lines agents and insurers operating within the state. To accomplish this, MSLA devotes significant resources towards ensuring statutory compliance. They communicate regularly with their members, providing them with essential information and guidance to help them adhere to existing and future regulations. By doing so, MSLA plays a crucial role in maintaining a well-regulated surplus lines market in Mississippi.
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Impact
October, 2024
The Mississippi Surplus Lines Association plays a crucial role in overseeing the surplus lines insurance market within the state. By providing support to the Mississippi Insurance Department, the Association ensures that surplus lines agents adhere to the laws governing this specialized segment of the insurance industry. This oversight fosters an environment of compliance and accountability, which is essential for maintaining the integrity of the market.
In addition to regulatory support, the Association actively communicates with its members, offering resources and guidance to help them navigate existing and future regulations effectively. By focusing its efforts on statutory compliance, the Association not only enhances the professionalism of its members but also contributes to consumer protection by ensuring that surplus lines insurance is provided in a manner consistent with state laws.
Overall, the Mississippi Surplus Lines Association serves as a vital conduit between the insurance market and regulatory authorities, promoting ethical practices and stability in the surplus lines sector. This impact not only benefits the industry but also safeguards the interests of consumers who rely on these specialized insurance products.
This information is meant to be a general summary of Mississippi Surplus Lines Association. 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: $237,246
- Program Service Revenue: $2,574,437
- Gross Receipts: $4,937,547
Assets and Liabilities:
- Total Assets: $10,301,399
- Total Liabilities: $227,487
- Net Assets: $10,073,912
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
STAMPING FEES
Revenue
$2,374,437
MWUA INCOME
Revenue
$200,000
Organization Details
Founding Year
1997
Principal Officer
Peggy Dronet
Website
www.msla.orgNTEE Category
Code: Y20 - Mutual benefit
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