Insurance Educational Association

Nonprofit profile at a glance

EIN
941227739
IRS 990 coverage
2011–2020
Forms available
Form 990 2020
Location
Huntington Beach, CA, USA
Phone
7146124909
Rating
46
Verdict
MIXED
Rating confidence
Moderate
Sector
Management & Technical Assistance

Official website

Reported finances

Revenue
$374,752
Expenses
$54,051
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • REGINA MAGEE (PRESIDENT & CEO)

Highest reported compensation

  • REGINA MAGEE (PRESIDENT & CEO): $104,070 total reported compensation
  • ROB REDWITZ (CFO): $8,793 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Iea creates and provides professional development and continuing education products and services in insurance, risk management and disability management.

What it reported doing in 2020

The organization offered courses in workers compensation insurance, disability insurance and property and casuality insurance through various teaching methods.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 90
  • Accountability: 86
  • Sustainability: 46
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90.9%; rating input score 91; 24th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 85.6%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 192.5%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: -14.4% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: -11.4% per year; rating input score 0; 9th percentile among comparable filings
  • Asset growth: -18.9% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 10 of 11 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $104K · 10 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 8 filed schedules
  • Filing history: 10 filing years from 2011 to 2020
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 0/100.
  • High — Grant Readiness: California registration: this organization is recorded as not currently operating in California.