The Council of Insurance Agents and Brokers
Nonprofit profile at a glance
- EIN
- 131952497
- IRS 990 coverage
- 2011–2024
- Forms available
- Form 990 2024
- Location
- Washington, DC, USA
- Phone
- 2027834400
- Rating confidence
- Limited
Reported finances
- Revenue
- $29,384,112
- Expenses
- $26,297,610
- Assets
- $54,917,385
- Liabilities
- $23,932,629
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
49 people listed
Executive titles in this filing
- JOEL R WOOD (PRESIDENT / CEO)
Highest reported compensation
- KEN A CRERAR (EXECUTIVE CHAIRMAN): $5,621,527 total reported compensation
- JOEL R WOOD (PRESIDENT / CEO): $1,107,119 total reported compensation
- CATHERINE RICHARDSON (CHIEF OPERATING OFFICER): $795,994 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 council was established to promote the interests of its members, who comprise leading insurance agencies and brokerage firms.
What it reported doing in 2024
The council is the premier association for the top regional, national and international commercial insurance and employee benefits intermediaries worldwide. The council fosters relationships industry-wide by engaging lawmakers, regulators, and stakeholders around the world to promote the interests of its members and the valuable role they play in the mitigation of risk for their clients by providing unique forums for networking opportunities and leadership development, offering business intelligence and services. Our five largest programs/meetings are the insurance leadership forum, the employee benefits leadership forum, the council academy, legislative summit and the operations & working group forum. These annual programs foster the continuation of the council and its members strong relationships with each other, insurance carriers, and members of congress; and lays a solid foundation for future relationships. The council extends its reach to both sides of the aisle while educating rule makers on the critical role of the broker and agency for both property/casualty and health care insurance programs.
Operating model
- Revenue model
- Earned-program. 89% 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: 87
- Accountability: 100
- Sustainability: 55
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 92.3%; rating input score 92; 8th percentile among comparable filings
- Pay-setting controls: 5 of 6 controls in place; rating input score 83
- Compensation committee: Pass
- Independent consultant: Pass
- 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: 77.9%; rating input score 78; 16th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
- Governance controls: 9 of 9 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: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 10.5%; rating input score 69; 69th percentile among comparable filings
- Total-asset coverage ratio: 2.09; rating input score 63; 63rd percentile among comparable filings
- Liabilities to assets ratio: 0.44; rating input score 34; 34th percentile among comparable filings
- Officer compensation ratio: 43.8%; rating input score 0; 0th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 8.6% per year; rating input score 100; 68th percentile among comparable filings
- Asset growth: 17.5% per year; rating input score 100; 85th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 35 of 35 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $5.6M · 49 people listed · 5 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $5.6M reported
- Consistency: 15 of 16 current checks pass · 1 finding to review
- Schedules: 7 filed schedules · includes grants, executive pay, and related organizations
- Filing history: 13 filing years from 2011 to 2024
- Contacts: How to reach this organization
- Money network: 20 filed money-flow records
- Related organizations: 7 filed related-organization links
- 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.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- High — Sustainability: Officer compensation ratio scored 0/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 34/100.