Insurance Institute for Business & Home Safety

Analysis

Insurance Institute for Business & Home Safety is a registered charity in United States, based in Richburg, SC. It received its IRS tax-exemption ruling in May 1999, 27 years ago. Its declared purposes cover public safety, disaster preparedness and relief, which this site groups under armed forces, emergency and public safety. 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 Institute for Business & Home Safety reported income of $24.2m and spending of $20.2m, spending 83% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $17.5m to $24.2m (+39%), an average of +8.5% a year. The sharpest change came in the year to December 2022, when income rose by 49%. Over the whole period it spent 88% of the income it received.

Among 9,128 United States charities whose main cause is armed forces, emergency and public safety and that reported income, Insurance Institute for Business & Home Safety sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within SC. Charities of a similar size with the same main cause include Aaa Ambulance Service ($23.9m), Secure Community Network Inc ($25.3m) and Oregon Worker Relief ($23.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% and program service revenue 4.3% of the total. Compensation of current officers, directors and key employees was $3.1m (15% of expenses). Other salaries and wages came to $8.0m. At year end it held assets of $52.6m against liabilities of $3.1m, net assets of $49.5m. It reported 98 employees.