Independent Insurance Agents of Mississippi Inc

Nonprofit profile at a glance

EIN
640204857
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Flowood, MS, USA
Phone
6019399909
Rating confidence
Limited
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$1,231,346
Expenses
$1,113,881
Assets
$5,079,407
Liabilities
$106,366

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

17 people listed

Executive titles in this filing

  • CLINTON GRAHAM (PRESIDENT)

Highest reported compensation

  • CLINTON GRAHAM (PRESIDENT): $215,902 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of the independent insurance agents of Mississippi, working in the public's best interest, is to be the unrelenting advocate for independent insurance agents and to provide members with a sustainable competitive advantage.

What it reported doing in 2024

Independent insurance agents of Mississippi, inc. (iiam) membership includes independent insurance agencies located throughout the state. Independent insurance agents provide customers with a choice of policies from a variety of insurance companies and offer multiple lines of insurance, including property, casualty, life, health, employee benefit plans and retirement products. Iiam has distinguished itself, and is recognized nationally, for its accomplishments in state and national government affairs, public relations, communications, and education. Iiam provides activities for their members such as an annual convention and trade show, agency management conference and young agents functions each year. The organization provides member services, continuing education and communication of relevant information to independent agents through seminars, workshops, technical support, a magazine, and newsletters.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 82
  • Accountability: 100
  • Sustainability: 62
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 9.5%; rating input score 60; 60th percentile among comparable filings
  • Total-asset coverage ratio: 4.56; rating input score 83; 83rd percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 62; 62nd percentile among comparable filings
  • Officer compensation ratio: 19.4%; rating input score 16; 16th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 0.4% per year; rating input score 100; 16th percentile among comparable filings
  • Asset growth: 3.1% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 16 of 16 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $216K · 17 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Officer compensation ratio scored 16/100.