Overview
What is Escrow Agents' Fidelity Corporation?
Escrow Agents' Fidelity Corporation is a nonprofit organization situated in Los Angeles, California. With around 1,076 members as of June 30, 2023, its primary mission is to protect members from financial losses related to trust obligations, resulting from fraudulent, dishonest, or misappropriated activities. The organization utilizes an operations fund to cover day-to-day operations, which is assessed based on an estimated budget and any surplus. As of the given data, the organization is managed by a small team of four employees.
Official website here: www.eafc.org
Is Escrow Agents' Fidelity Corporation legitimate?
Escrow Agents' Fidelity Corporation is a legitimate nonprofit organization registered as a 501(c)(6) entity. Escrow Agents' Fidelity 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: $367,792
Professional Fundraising Fees: $0
Other Salaries and Wages: $172,855
For more financial information, click here
Official website here: www.eafc.org
What is the mission statement of Escrow Agents' Fidelity Corporation?
Escrow Agents' Fidelity Corporation's mission is centered around protecting its members from financial losses. Specifically, it aims to indemnify members against any losses stemming from fraudulent or dishonest actions that result in the misappropriation, embezzlement, or abstraction of trust obligations. The corporation serves as a safeguard, ensuring that its members are not held accountable for such misconduct. As of June 30, 2023, Escrow Agents' Fidelity Corporation boasted a membership of 1,076 members, demonstrating its widespread appeal and relevance in the industry.
Official website here: www.eafc.org
Who is the CEO of Escrow Agents' Fidelity Corporation?
Daniel Bovill is the President of Escrow Agents' Fidelity Corporation.
Official website here: www.eafc.org
What is the revenue of Escrow Agents' Fidelity Corporation?
Escrow Agents' Fidelity Corporation's revenue in 2023 was $1,461,745.
Official website here: www.eafc.org
Who are the executives of Escrow Agents' Fidelity Corporation and what are their salaries?
The average compensation at Escrow Agents' Fidelity Corporation during 2023 was $135,162. There are 4 employees and 13 volunteers at Escrow Agents' Fidelity Corporation.
Here are 17 key members and their salaries:
- Compensation: $251,015
- Related: $0
- Other: $45,840
- Compensation: $2,400
- Related: $0
- Other: $0
- Compensation: $2,000
- Related: $0
- Other: $0
- Compensation: $400
- Related: $0
- Other: $0
- Compensation: $1,600
- Related: $0
- Other: $0
- Compensation: $2,400
- Related: $0
- Other: $0
- Compensation: $2,000
- Related: $0
- Other: $0
- Compensation: $2,000
- Related: $0
- Other: $0
- Compensation: $1,600
- Related: $0
- Other: $0
- Compensation: $2,000
- Related: $0
- Other: $0
- Compensation: $2,400
- Related: $0
- Other: $0
- Compensation: $2,400
- Related: $0
- Other: $0
- Compensation: $2,400
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $800
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.eafc.org
Where can I find the form 990 for Escrow Agents' Fidelity Corporation?
Escrow Agents' Fidelity Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.eafc.org
Learn more at the official website: www.eafc.org
Mission Statement of Escrow Agents' Fidelity Corporation
Escrow Agents' Fidelity Corporation exists to safeguard its members against potential losses associated with trust obligations. This protection is extended in response to instances of fraudulent, dishonest, or unlawful abstraction, misappropriation, or embezzlement of these obligations. The corporation serves as a buffer, indemnifying its members from such financial losses. It operates based on a membership structure, with 1,076 members as of June 30, 2023. The organization's operations are funded through a membership assessment, utilizing a formula that considers the estimated annual budget and the existing surplus in the operations fund. This assessment ensures the smooth day-to-day functioning of the organization.
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Impact
October, 2024
Escrow Agents' Fidelity Corporation plays a crucial role in safeguarding the financial interests of its members by providing indemnification against losses incurred due to fraudulent activities associated with trust obligations. This protection is vital in ensuring that members can operate their businesses with greater confidence, knowing they are shielded from potential financial setbacks stemming from dishonesty, misappropriation, or embezzlement.
With a membership base of over 1,000 escrow agents as of June 30, 2023, the organization fosters a sense of security and trust within the industry. By implementing an operations fund assessment based on estimated budgets and surplus resources, it ensures effective management of resources necessary for day-to-day operations. This structure not only enhances the overall stability of the escrow community in Los Angeles but also reinforces professional ethics and trust standards, ultimately contributing to a more secure and reliable marketplace.
The impact of Escrow Agents' Fidelity Corporation extends beyond individual members, influencing the broader real estate and financial sectors by promoting transparency and accountability. Its commitment to protecting trust obligations helps maintain consumer confidence, which is essential for the vitality of real estate transactions and related services. In summary, the organization acts as a critical safety net, enhancing the trustworthiness and resilience of the escrow industry.
This information is meant to be a general summary of Escrow Agents' Fidelity 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: $184,743
- Program Service Revenue: $1,271,192
- Gross Receipts: $1,461,745
Assets and Liabilities:
- Total Assets: $7,955,997
- Total Liabilities: $1,021,442
- Net Assets: $6,934,555
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ASSESSMENTS
Revenue
$1,146,403
UNCLAIMED MEMBERSHIP R
Revenue
$48,384
CERTIFICATE FEE
Revenue
$35,480
MEMBERSHIP FEES
Revenue
$30,000
LATE FEE CHARGES
Revenue
$10,925
Organization Details
Founding Year
1983
Phone
(310) 477-0044Principal Officer
Daniel Bovill
Main Address
11150 W OLYMPIC BLVD 840, LOS ANGELES, CA, 900641817
Website
www.eafc.orgNTEE Category
Code: J00 - Employment
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