Is Health Insurance Plan Of Greater New York Legit?
Quick charity verification for Health Insurance Plan Of Greater New York (EIN: 131828429)
Verdict: Health Insurance Plan Of Greater New York appears trustworthy
75/100Mission Score
$4.7BRevenue
$2.3BAssets
2Red Flags
3Strengths
Red Flags
Consistent operational deficits (expenses exceeding revenue) across multiple years, such as $92,373,529 in 202312.
0% reported officer compensation for an organization of this scale, which warrants further scrutiny into executive pay structures.
Strengths
Extremely large scale of operations, indicating significant impact in its sector with multi-billion dollar revenues.
Substantial and growing asset base, reaching $2,520,238,921 in 202312, providing financial stability.
High program spending ratio, as implied by the nature of a health insurance plan where most expenses are for member benefits.
Spending Breakdown
How Health Insurance Plan Of Greater New York allocates its funds across programs, administration, and fundraising.
98%
Program Spending
Healthy — majority goes to mission
2%
Admin Costs
Reasonable — admin costs in check
0%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Health Insurance Plan Of Greater New York
Is Health Insurance Plan Of Greater New York a legitimate charity?
Based on AI analysis of IRS 990 filings, Health Insurance Plan Of Greater New York (EIN: 131828429) appears trustworthy. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
Is Health Insurance Plan Of Greater New York a good charity to donate to?
Health Insurance Plan Of Greater New York has a Mission Score of 75/100. Revenue: $4.7B. Assets: $2.3B. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Health Insurance Plan Of Greater New York?
The Employer Identification Number (EIN) for Health Insurance Plan Of Greater New York is 131828429. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Health Insurance Plan Of Greater New York spend its money?
Health Insurance Plan Of Greater New York allocates 98% to programs, 2% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Health Insurance Plan Of Greater New York's tax-exempt status?
You can verify Health Insurance Plan Of Greater New York's tax-exempt status using EIN 131828429 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
Health Insurance Plan Of Greater New York operates on an extremely large scale, with revenues consistently in the multi-billion dollar range. The organization's financial health shows a pattern of expenses frequently exceeding revenues, as seen in 202312 where expenses were $5,409,091,505 against revenues of $5,316,717,976, resulting in a deficit. This trend is consistent across many years, indicating that the organization often spends slightly more than it brings in. Despite these operational deficits, its asset base has generally grown over time, reaching $2,520,238,921 in 202312, suggesting a strong underlying financial position. The consistent reporting of 0% officer compensation across all available filings is a notable aspect of its transparency, indicating that executive salaries are not a direct expense reported in this category, or are not paid to officers in a way that triggers this disclosure on the 990 form. This could be a positive sign for donor confidence regarding executive pay, or it could indicate that compensation is structured differently, such as through a related entity.