World Insurance Promotion Assn

Nonprofit profile at a glance

EIN
814522533
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Washington, DC, USA
Phone
2028990118
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$132,985
Expenses
$125,913
Assets
$128,811
Liabilities
$105,074

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

Leadership & pay

3 people listed

Executive titles in this filing

  • Baoliang Sheng (president, Director)

Highest reported compensation

  • Baoliang Sheng (president, Director): $61,026 total reported compensation

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

Overview

Mission

Promote open dialogue between life insurance companies around the world

What it reported doing in 2024

Our accomplishments for 2024 include We developed and delivered sales training coureses for AIA China. In addition we conducted several online topical senimars for our member companies as member benefits

Operating model

Revenue model
Earned-program. 100% 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 80
  • Accountability: 60
  • Sustainability: 37
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.6%; rating input score 80
  • Program expense ratio: 84.1%; rating input score 84
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 88.9%; rating input score 89; 5th 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: 66.7%; rating input score 67; 18th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 5.3%; rating input score 51; 51st percentile among comparable filings
  • Total-asset coverage ratio: 1.02; rating input score 41; 41st percentile among comparable filings
  • Liabilities to assets ratio: 0.82; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 48.5%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: -10.7% per year; rating input score 0; 10th percentile among comparable filings
  • Revenue growth: -10% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: 25.2% per year; rating input score 100; 89th percentile among comparable filings

Details

  • Where the money goes: 79.6% of revenue deployed · 84.1% of spending went to programs
  • Governance: 2 of 3 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $61K · 3 people listed
  • Consistency: 19 of 21 current checks pass · 2 findings to review
  • Schedules: 2 filed schedules
  • Filing history: 7 filing years from 2018 to 2024
  • 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX AllOtherExpenses column sum did not reconcile in the filed values.
  • Review — Sustainability: Operating margin scored 51/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 41/100.
  • High — Sustainability: Officer compensation ratio scored 4/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.