Is Professional Insurance Agents Of New York State Inc Legit?
Quick charity verification for Professional Insurance Agents Of New York State Inc (EIN: 150525570)
Verdict: Professional Insurance Agents Of New York State Inc appears trustworthy
75/100Mission Score
$2.0MRevenue
$10.9MAssets
1Red Flags
4Strengths
Red Flags
NTEE Code is unknown, limiting detailed programmatic assessment.
Strengths
Consistent financial stability with revenues generally exceeding expenses over the long term.
Strong asset base, consistently above $7.8 million and reaching over $10 million, providing significant financial reserves.
Zero reported officer compensation across all filings, indicating high transparency and efficiency in executive pay.
Low and stable liabilities relative to assets, demonstrating sound financial management.
Spending Breakdown
How Professional Insurance Agents Of New York State Inc allocates its funds across programs, administration, and fundraising.
80%
Program Spending
Healthy — majority goes to mission
15%
Admin Costs
Reasonable — admin costs in check
5%
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 Professional Insurance Agents Of New York State Inc
Is Professional Insurance Agents Of New York State Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Professional Insurance Agents Of New York State Inc (EIN: 150525570) appears trustworthy. Mission Score: 75/100. 1 red flag identified, 4 strengths noted.
Is Professional Insurance Agents Of New York State Inc a good charity to donate to?
Professional Insurance Agents Of New York State Inc has a Mission Score of 75/100. Revenue: $2.0M. Assets: $10.9M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Professional Insurance Agents Of New York State Inc?
The Employer Identification Number (EIN) for Professional Insurance Agents Of New York State Inc is 150525570. 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 Professional Insurance Agents Of New York State Inc spend its money?
Professional Insurance Agents Of New York State Inc allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Professional Insurance Agents Of New York State Inc's tax-exempt status?
You can verify Professional Insurance Agents Of New York State Inc's tax-exempt status using EIN 150525570 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
Professional Insurance Agents Of New York State Inc (PIA NY) demonstrates consistent financial operations, with revenues and expenses generally in the range of $1.5 million to $2.3 million over the past decade. The organization maintains a healthy asset base, consistently above $7.8 million and reaching over $10 million in recent years, indicating strong financial reserves. While the NTEE code is unknown, which can sometimes hinder a full programmatic assessment, the consistent financial reporting and zero officer compensation reported across all filings suggest a commitment to transparency regarding executive pay.
Spending efficiency appears stable, with expenses closely tracking revenues, often resulting in modest surpluses or deficits. For instance, in 2023, expenses of $1,853,772 slightly exceeded revenues of $1,770,740, a common pattern for membership organizations. The organization's substantial assets relative to its annual expenses provide a solid financial cushion, ensuring operational stability even during periods of slight revenue fluctuation. The absence of reported officer compensation is a notable positive for spending efficiency and transparency.
Overall, PIA NY appears to be a financially stable organization with a consistent operational history. Its strong asset base and transparent reporting of executive compensation (or lack thereof) are positive indicators. Further analysis would benefit from a detailed breakdown of program, administrative, and fundraising expenses, which are not provided in the summary data, to fully assess spending efficiency in relation to its mission.