2023-11-10T13:10:41-05:00 2020-12-31 571121332 Robert E Milhous CPA P A and Associates P O BOX 1960 Columbia SC 29202 990 2020-01-01 570248455 Independent Insurance Agents and Brokers of South Carolina % G Frank Sheppard INDE 8037319460 800 Gracern Rd Columbia SC 29210 G Frank Sheppard President 2023-11-10 true Robert E Milhous CPA SC P01210305 8037725300 2023-11-10 2020 2023-04-26 12:10:37Z G Frank Sheppard 800 Gracern Rd Columbia SC 29210 1468155 false X www.iiabsc.com X 1992 SC Independent Insurance Agents and Brokers of SC IIABSC provides membership services to the independent insurance agents of South Carolina to promote the common business interests within the industry and before the legislature and the public. 13 13 8 0 51013 14939 374853 333841 1234150 940858 24247 23928 272237 169528 1905487 1468155 60500 0 0 0 571388 573480 0 0 0 1130098 759215 1761986 1332695 143501 135460 2006347 2213960 154658 227098 1851689 1986862 Independent Insurance Agents and Brokers of SC IIABSC provides membership services to the independent insurance agents of South Carolina to promote the common business interests within the industry and before the legislature and the public. false false 0 0 289785 The objective of Education is to provide professional development and insurance education throughout South Carolina. The following classes were held during 2020: Regular Education with 13 classes and 174 attendees; Regular Education Webcasts had 38+ sessions and 2,391 attendees; CISR with 24 classes and 284 attendees; and CIC with 4 institutes GS and 154 attendees. Expenses = $200547. 0 0 353729 The objective of the filing organization Conferences is to offer education and professional development opportunities information training and networking for SC independent insurance agents. The following conferences were held in 2020:Virtual Annual Convention with approximately 200 attendees viewers; Spring Conference with 341 attendees. Due to the COVID-19 pandemic there was no Young Agents Conference during 2020. Expenses = $94342. 0 0 0 Monthly newsletters are provided to our members outlining: Benefits and Services and Legislative updates during the legislative sessions. A quarterly magazine is provided to our membership which focuses on feature articles relative to the Independent Insurance Agent industry. Expenses = $99963. 0 0 0 0 false true false true false false false false false true true false false true false true false false false false false false false false false false false false false false false false false false false false false false false false true true true false true 20 0 true 8 true true false false false false false false false false X 13 13 false false false false true false false true true false false false true true true true false true false false X G Frank Sheppard 8037319460 800 Gracern Rd Columbia SC 29210 X Jay Taylor Jr Chairman 1.00 0.00 X X 0 0 0 Thomas Bates Past Chairman 1.00 0.00 X X 0 0 0 W Ashley Brady National Director 1.00 0.00 X X 0 0 0 Tonya Thomason Treasurer 1.00 0.00 X X 0 0 0 Robert Nalley Secretary 1.00 0.00 X X 0 0 0 Gus Brabham IV Board member 1.00 0.00 X 0 0 0 L Amber Bryant Board member 1.00 0.00 X 0 0 0 Brian W Eanes Board member 1.00 0.00 X 0 0 0 Kelly Frontroth Board member 1.00 0.00 X 0 0 0 Hilary Haines Board member 1.00 0.00 X 0 0 0 Benjamin C Meyers Board member 1.00 0.00 X 0 0 0 Renardo Robinson Board member 1.00 0.00 X 0 0 0 Julie B Turner Board member 1.00 0.00 X 0 0 0 G Frank Sheppard President 40.00 0.00 X X 0 0 0 0 0 0 0 false false false 0 318841 0 0 0 15000 0 333841 Conferences and conventions 611710 353729 353729 0 0 Administrative reimbursement 561000 297344 297344 0 0 Educational support services Other schools and instruction other thanelementary and secondary schoo 611600 289785 289785 0 0 940858 18918 0 0 18918 0 0 0 0 103705 0 0 103705 0 0 0 0 5010 0 0 0 5010 0 5010 0 0 5010 0 0 0 0 0 0 0 0 0 0 0 0 Corporate membership dues 900099 51013 0 51013 0 Other activity 900099 14810 14810 0 0 65823 1468155 955668 51013 127633 109141 0 0 0 0 0 0 0 344403 0 0 0 43383 0 0 0 76553 0 0 0 0 0 0 0 15526 0 0 0 0 0 0 0 48052 0 0 0 0 0 0 0 0 0 21165 0 0 0 0 0 0 0 22974 0 0 0 134332 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 11426 0 0 0 0 0 0 0 94342 0 0 0 0 0 0 0 0 0 0 0 61397 0 0 0 14687 0 0 0 Publication and dues 99963 0 0 0 Education-related expenses 200547 0 0 0 Board and committees 25002 0 0 0 Government affairs 3516 0 0 0 6286 0 0 0 1332695 0 0 0 390708 517771 0 0 0 0 198392 283958 0 0 0 0 0 0 0 0 21279 13684 1524542 896941 627419 627601 549140 563465 137481 125553 81928 81928 0 0 0 0 2006347 2213960 68394 95255 0 0 0 0 0 0 0 0 0 0 0 0 0 0 86264 131843 154658 227098 X 1690058 1834744 161631 152118 1851689 1986862 2006347 2213960 135460 -287 0 0 0 0 X false true X true false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false true 369854 32167 22 32189 38576 122983 0 122983 1244728 0 794509 450219 0 0 0 0 156831 0 102432 54399 0 0 0 0 627601 0 F 0 F Investment in BIRC 125553 F 125553 Refundable advances-dues and tuition 131843 131843 1468155 0 0 0 0 0 1468155 0 0 0 1468155 1328459 0 0 0 -4236 -4236 1332695 0 0 0 1332695 Part XII, line 2d Investment expenses Part III, Line 4d | Description:, Expense Amount:, Grants Amount:, Revenue Amount:| Providing members access to national marketing and advertising programs including "Trusted Choice" products. Expenses = $3516, $0, $0, $0| Part VI, Section A, Line 6 As a trade association the organization consists of members who are independent insurance agents in the state of South Carolina. Membership is open to all independent insurance agencies that are actively engaged in the property and casualty insurance business. Regular members elect the board of directors at an annual convention. Approval by the membership is required for various actions under the Bylaws. Corporate membership is allowed but have no voting rights. Part VI, Section B, Line 11a The organization's president reviews the Form 990 prior to filing and informs the Executive Committee of its status. Part VI, Section B, Line 11b The organization's president reviews the Form 990 prior to filing and informs the Executive Committee of its status. Part VI, Section B, Line 12c The president reviews transactions for such conflict and if such arises informs the Executive Committee of the Board of Directors who also periodically reviews its policies with the governing Bylaws. Part VI, Section B, Line 15 | Name of the Person:, The process used to establish compensation of the person who served in:|, The year in which this process was last undertaken:| G Frank Sheppard, The Executive Committee annually reviews the President and the Vice-president of Education and adjusts compensation accordingly., 2020| Part VI, Section C, Line 19 The organization makes its governing documents conflict of interest policy and financial statements through the Form 990 to the public upon request. Part III,line 4 | Explanation:| Other program services consist of providing member access to national marketing and advertising programs including the national "Trusted Choice" products. Part VI,line 6 | Explanation:| As a trade association the filing organization's members consist of independent insurance agents throughout SC. Regular membership in IIABSC is open to all independent insurance agencies that are actively engaged in property and casualty business. Part VI,line 7 | Explanation:| Association members during its annual convention elect the filing organization's board of directors with staggered terms. Approval by the membership is required for various actions as required under the bylaws. Part VI,line 11 | Explanation:| The filing organization's president reviews the prepared Form 990 prior to signing and filing with the IRS. The executive committee of the board receives a report from the president regarding the same. Part VI,line 15 | Explanation:| Annual reviews are performed by the executive committee to determine compensation of the filing organization's president and vice-president for education. All other employees have performance and compensation reviews conducted by the president. Part VI,line 16 | Explanation:| The IIABSC purchased stock in the national Big-I Reinsurance Company BIRC during the tax year 2008. The purchase totaled 10 shares of 301 class B outstanding shares. There are 500 total outstanding shares. While no written policy was put into place relative to the tax exempt status of the filing organization it has been determined such transaction is within the filing organization's tax exempt purpose of supporting its members and has no effect on its tax exempt status as the program is part of the nation Independent Insurance Agents and Brokers Association IIABA. The fair value of the BIRC investment decreased in 2020 from $137,481 to $125,553 based upon the last available audited financial statements dated December 31 2020. Part VI,line 19 | Explanation:| The filing organization makes its governing documents conflict of interest policy and financial statements available to the public upon request. Part IX,line 24 | Explanation:| All other expenses of $5840 consists of miscellaneous office expenses and staff development costs. Part IX,line 25 | Explanation:| Salaries wages employee benefits and various other office and management expenses are allocated by function. Other,line 1 | Explanation:| Schedule C Part I-A Line 1: Description of the organization's direct and indirect political campaign activities - The filing organization hires an outside firm to monitor local legislation which is then broadcast to members through newsletters. Direct lobbying expenses occur at the national IIABA organization which part of the member's dues are remitted by the filing organization to national for such purposes. Additionally certain staff and board members attend the National IIANC legislative conference in Washington DC. The filing organization annually disclosures to each member the percentage of dues which are related to such activities as demonstrated in Part III-B. Per Part 1-C Line 5 - Members contribute to the separate IIABSC Public Affairs Committee through the filing organization. Such earmarked funds received by the filing organization are promptly transferred to the IIABSC PAC. IIABSC Foundation 800 Gracern Rd Columbia SC 29210 570781364 Education SC 501(c)(3) PF N/A false IIABSC Agency Inc 800 Gracern Rd Columbia SC 29210 570956582 Insurance agency SC N/A C corp 0 773982 1.00 false false true true false false false false false false false false false false false false true true false true IIABSC Agency Inc q 293344 Accrual The filing organization is submitting its 2020-Form 990 as directed by IRS letter dated 10 20 2023 LTR 3064C 0438198066. This was in response to reasonable cause letter dated 10 31 2022 from taxpayer which originally described that the organization 1 timely filed for an e-file waiver 2 timely filed a 'paper' copy of Form 990 along with Form 8948 and 3 waited patiently for the IRS to conclude upon the same.