West Virginia Insurance Federation

Nonprofit profile at a glance

EIN
310973506
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Charleston, WV, USA
Phone
3043579929
Rating confidence
Limited
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$173,547
Expenses
$161,912
Assets
$160,937
Liabilities
$0

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

Leadership & pay

16 people listed

Executive titles in this filing

  • JILL C RICE (PRESIDENT)

People named in this filing

  • DAMIEN JOSEFIAK (BOARD MEMBER)
  • FOSTER SIRBAUGH JR (SECRETARY/TREASURER)
  • MIKE BERLIN (BOARD MEMBER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To be the leading advocate for a vibrant and competitive insurance climate in the state of West Virginia. To serve as the leading advocate for an improved and more competitive insurance climate for companies and their insureds.

What it reported doing in 2024

Provide members with regular updates on significant insurance developments from all three branches of government. Coordinate members' participation in filing of briefs amicus curie on significant issues considered by the wv supreme court of appeals, and meet annually with the congressional delegation on federal issues. Develop a cohesive legislative agenda and strategy for each legislative session.

Operating model

Revenue model
Membership-supported. 100% of the money available for current operations came from membership dues.
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: 90
  • Accountability: 64
  • Sustainability: 55
  • Growth: 0

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; 64th 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 6.7%; rating input score 54; 54th percentile among comparable filings
  • Total-asset coverage ratio: 0.99; rating input score 40; 40th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -2.2% per year; rating input score 0; 16th percentile among comparable filings
  • Asset growth: -0.3% per year; rating input score 0; 23rd 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 · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 16 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • 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 — Accountability: Governance controls: 5 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Operating margin scored 54/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 40/100.