Property Insurance Association of La
Nonprofit profile at a glance
- EIN
- 720246020
- IRS 990 coverage
- 2015–2024
- Forms available
- Form 990 2024
- Location
- Metairie, LA, USA
- Phone
- 5048367980
- Rating confidence
- Limited
Reported finances
- Revenue
- $6,641,872
- Expenses
- $5,760,951
- Assets
- $16,693,176
- Liabilities
- $2,449,576
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
25 people listed
Executive titles in this filing
- A J HERBERT III (EXECUTIVE DIRECTOR/SECRETA)
Highest reported compensation
- A J HERBERT III (EXECUTIVE DIRECTOR/SECRETA): $295,516 total reported compensation
- BLAINE RABE (PUBLIC PROTECTION DIV MANA): $148,870 total reported compensation
- TODD MADDOX (PRICING DIV MANAGER): $138,831 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 property insurance association of Louisiana (pial) is a private, non-profit association made up of all insurance companies licensed to write property coverages within the state. Founded by its member companies in 1888, the pial has been in continuous operation for 137 years. The pial is funded solely by assessments of its member companies and functions in three primary ways: the company grades municipal areas in terms of fire protection (public protection) capabilities for the purpose of fair insurance rating of the graded areas; the pial inspects (upon request of its member companies) any commercial building located in the state of Louisiana for the purpose of fair pricing of individual risks; and the pial files advisory rates and forms for property coverages in the state, subject to review and approval of the Louisiana department of insurance.
What it reported doing in 2024
Pursuant to its statutory authority under Louisiana r.s. 22:1460, the association is dedicated to promoting and maintaining a healthy and competitive property insurance market in the state of Louisiana for the benefit of the insuring public.during 2024, property insurance association of Louisiana filed a total of 10 rate, rule and form filings; completed 133 gradings of fire department capabilities and conducted 55 p-1 gap meetings with fire departments through its grading assistance program to help departments improve their grades and participated in 1 fire chief conferences and hosted the irb field rep conference; and, conducted inspections of 1,748 commercial buildings in Louisiana and provided the results thereof to members, companies, and their agents. The pricing division also conducted 156 commercial building inspections in la for iso.
Operating model
- Revenue model
- Earned-program. 84% of the money available for current operations came from fees and other program revenue.
- 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: 91
- 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: Missing
- Written employment contract: Pass
- 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: 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: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Fail
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 13.3%; rating input score 68; 68th percentile among comparable filings
- Total-asset coverage ratio: 2.9; rating input score 73; 73rd percentile among comparable filings
- Liabilities to assets ratio: 0.15; rating input score 51; 51st percentile among comparable filings
- Officer compensation ratio: 14.5%; rating input score 19; 19th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 3% per year; rating input score 100; 27th percentile among comparable filings
- Asset growth: 6.2% per year; rating input score 100; 41st percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 17 of 17 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $296K · 25 people listed · 4 of 6 pay-setting controls reported
- Consistency: 13 of 13 current checks pass
- Schedules: 4 filed schedules · includes executive pay
- Filing history: 10 filing years from 2015 to 2024
- Contacts: How to reach this organization
- Money network: 5 filed money-flow records
- 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- High — Sustainability: Officer compensation ratio scored 19/100.
- Review — Sustainability: Liabilities to assets ratio scored 51/100.