Insurance Industry Charitable Foundation Inc

Analysis

Insurance Industry Charitable Foundation Inc is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in August 2004, 22 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Insurance Industry Charitable Foundation Inc reported income of $6.4m and spending of $6.5m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.5m to $6.4m (+43%), an average of +9.3% a year. The sharpest change came in the year to December 2020, when income rose by 23%. Over the whole period it spent 98% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Insurance Industry Charitable Foundation Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within CA. Charities of a similar size with the same main cause include Helping a Hero Org ($6.4m), Youthpower365 ($6.4m) and Mountain Bizcapital Inc ($6.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $1.6m (25% of expenses). Other salaries and wages came to $435k. At year end it held assets of $4.3m against liabilities of $1.0m, net assets of $3.3m. It reported 12 employees.