Insurance Training and Education Center Inc

Analysis

Insurance Training and Education Center Inc is a registered charity in United States, based in Phoenix, AZ. It received its IRS tax-exemption ruling in April 1991, 35 years ago. Its declared purposes cover education, which this site groups under education and training. 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 October 2023, Insurance Training and Education Center Inc reported income of $387k and spending of $493k, spending 127% of what it took in. Across the 5 years on record, from October 2019 to October 2023, income fell from $468k to $387k (-17%), an average of -4.6% a year. The sharpest change came in the year to October 2022, when income rose by 24%. Over the whole period it spent 115% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Insurance Training and Education Center Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 64th percentile within AZ. Charities of a similar size with the same main cause include United Roots ($387k), Gladeo ($387k) and Spirit Voyage Legacy Foundation ($387k).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 32% and program service revenue 67% of the total. Compensation of current officers, directors and key employees was $52k (11% of expenses). Other salaries and wages came to $90k. At year end it held assets of $680k against liabilities of $1.9m, net assets of -$1.3m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.