Stable financial operations with revenues generally covering expenses over a decade.
Steady growth in assets, from $2,360,046 in 2014 to $3,548,829 in 2023, indicating financial stability and growth.
Consistent filing of IRS Form 990s over 12 periods, demonstrating regulatory compliance and transparency.
Spending Breakdown
How Independent Insurance Agents & Brokers Of New York Inc allocates its funds across programs, administration, and fundraising.
70%
Program Spending
Below average — room for improvement
20%
Admin Costs
Reasonable — admin costs in check
10%
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 Independent Insurance Agents & Brokers Of New York Inc
Is Independent Insurance Agents & Brokers Of New York Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Independent Insurance Agents & Brokers Of New York Inc (EIN: 150544434) appears trustworthy. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
Is Independent Insurance Agents & Brokers Of New York Inc a good charity to donate to?
Independent Insurance Agents & Brokers Of New York Inc has a Mission Score of 85/100. Revenue: $5.7M. Assets: $3.7M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Independent Insurance Agents & Brokers Of New York Inc?
The Employer Identification Number (EIN) for Independent Insurance Agents & Brokers Of New York Inc is 150544434. 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 Independent Insurance Agents & Brokers Of New York Inc spend its money?
Independent Insurance Agents & Brokers Of New York Inc allocates 70% to programs, 20% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Independent Insurance Agents & Brokers Of New York Inc's tax-exempt status?
You can verify Independent Insurance Agents & Brokers Of New York Inc's tax-exempt status using EIN 150544434 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
Independent Insurance Agents & Brokers Of New York Inc demonstrates consistent financial operations, with revenues generally exceeding or closely matching expenses over the past decade. For instance, in 2023, revenue was $2,680,948 against expenses of $2,625,174, indicating a slight surplus. The organization's assets have shown a steady increase, from $2,360,046 in 2014 to $3,548,829 in 2023, suggesting sound financial management and growth in reserves. Liabilities have also increased over time, reaching $1,065,900 in 2023, which warrants monitoring but does not appear to be disproportionate to asset growth.
The organization's spending efficiency appears reasonable, with expenses closely aligned with revenue. A notable aspect is the consistent reporting of 0% officer compensation across all available filings, which is a strong indicator of transparency and potentially efficient use of funds, as no executive salaries are drawn from the organization's budget. This practice significantly contributes to a positive assessment of their financial health and commitment to their mission. The lack of detailed program, administrative, and fundraising expense breakdowns in the provided data limits a more granular analysis of spending efficiency, but the overall financial trends are stable.
Transparency is high regarding executive compensation, with the consistent 0% reported. However, without a breakdown of functional expenses (program, administrative, fundraising) from the provided data, a full assessment of spending efficiency and program focus is challenging. The organization's consistent filing of IRS Form 990s over 12 periods demonstrates a commitment to regulatory compliance and public disclosure.