Professional Independent Insurance Agents of Colorado Inc

Nonprofit profile at a glance

EIN
841203189
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Denver, CO, USA
Phone
3035120627
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$2,165,987
Expenses
$1,900,647
Assets
$3,824,861
Liabilities
$883,766

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

Leadership & pay

10 people listed

Executive titles in this filing

  • BRYAN BERNIER (CEO)

Highest reported compensation

  • BRYAN BERNIER (CEO): $390,530 total reported compensation

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

Overview

Mission

To promote the agency system among the independent insurance agents throughout Colorado, and to provide educational and other resources to strengthen professionalism in the insurance industry.

What it reported doing in 2024

Piiac publishes monthly e-newsletters to publicize topics of importance to the insurance industry, to promote the opportunities for agent education, and to help keep membership informed of local and national industry developments. The association emailed newsletters to approximately 10,000 e-addresses.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 65
  • Accountability: 90
  • Sustainability: 56
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.2%; rating input score 88
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Scored; rating input score 0

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 12.3%; rating input score 67; 67th percentile among comparable filings
  • Total-asset coverage ratio: 2.01; rating input score 62; 62nd percentile among comparable filings
  • Liabilities to assets ratio: 0.23; rating input score 41; 41st percentile among comparable filings
  • Officer compensation ratio: 20.5%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: 34.6% per year; rating input score 100; 94th percentile among comparable filings
  • Revenue growth: 4.4% per year; rating input score 100; 37th percentile among comparable filings
  • Asset growth: 9.9% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: 88.2% of revenue deployed · 100% of spending went to programs
  • Governance: 9 of 9 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $391K · 10 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 7 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 41/100.