Hamden Assurance Risk Retention Group Inc
Hamden Assurance Risk Retention Group maintains stable finances with consistent revenue and no officer compensation.
EIN: 208530788 · Burlington, VT · NTEE: Y20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $959K |
| Total Expenses | $911K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $100 |
| Net Assets | $50K |
| Transparency Score | 70/100 |
Is Hamden Assurance Risk Retention Group Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Hamden Assurance Risk Retention Group Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Hamden Assurance Risk Retention Group Inc
Hamden Assurance Risk Retention Group Inc (EIN: 208530788) is a nonprofit organization based in Burlington, VT, classified under NTEE code Y20. The organization reported total revenue of $959K and total assets of $113.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hamden Assurance Risk Retention Group Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hamden Assurance Risk Retention Group Inc is a small nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 7.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $990K |
| Total Expenses | $911K |
| Surplus / Deficit | +$79K |
| Total Assets | $109.9M |
| Total Liabilities | $109.8M |
| Net Assets | $50K |
| Operating Margin | 8.0% |
| Debt-to-Asset Ratio | 100.0% |
| Months of Reserves | 1447.5 months |
Financial Health Grade: A
In 2023, Hamden Assurance Risk Retention Group Inc reported a surplus of $79K with revenue exceeding expenses, holds 1447.5 months of operating reserves (strong position), has a debt-to-asset ratio of 100.0% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Hamden Assurance Risk Retention Group Inc's revenue has grown at a compound annual growth rate (CAGR) of 7.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +2.8% | -4.1% | +25.0% |
| 2022 | +1.3% | +22.6% | +15.0% |
| 2021 | +29.5% | +14.7% | +0.3% |
| 2020 | +12.3% | +3.6% | -17.0% |
| 2019 | +15.4% | +23.9% | +43.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Hamden Assurance Risk Retention Group Inc with a Mission Score of 70 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Hamden Assurance Risk Retention Group Inc allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $79K, with revenue exceeding expenses.
- Debt-to-asset ratio: 100.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that its leadership is either unpaid or compensated through other means not categorized as officer compensation on the 990, which is unusual for an entity managing over $100 million in assets.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Hamden Assurance Risk Retention Group Inc's IRS 990 filings:
- Lack of detailed program spending breakdown typical for public charities
- Consistently 0% officer compensation for an organization with significant assets, which may warrant further inquiry into compensation structures.
Strengths
The following positive indicators were identified for Hamden Assurance Risk Retention Group Inc:
- Consistent revenue generation and financial stability
- Significant and growing asset base, indicating strong financial reserves
- No reported officer compensation, suggesting low overhead in this specific area
Frequently Asked Questions about Hamden Assurance Risk Retention Group Inc
Is Hamden Assurance Risk Retention Group Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Hamden Assurance Risk Retention Group Inc (EIN: 208530788) some concerns. Mission Score: 70/100. 2 red flags identified, 3 strengths noted.
How does Hamden Assurance Risk Retention Group Inc spend its money?
Hamden Assurance Risk Retention Group Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Hamden Assurance Risk Retention Group Inc tax-deductible?
Hamden Assurance Risk Retention Group Inc is registered as a tax-exempt nonprofit (EIN: 208530788). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Hamden Assurance Risk Retention Group Inc CEO make?
Hamden Assurance Risk Retention Group Inc's highest-compensated officer earns $100 annually. The organization reported $959K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does Hamden Assurance Risk Retention Group Inc compare to similar nonprofits?
With a transparency score of 70/100 (Good), Hamden Assurance Risk Retention Group Inc is above average for NTEE category Y20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Hamden Assurance Risk Retention Group Inc located?
Hamden Assurance Risk Retention Group Inc is headquartered in Burlington, Vermont and files with the IRS under EIN 208530788. It is classified under NTEE code Y20.
How many years of IRS 990 filings does Hamden Assurance Risk Retention Group Inc have?
Hamden Assurance Risk Retention Group Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $959K in total revenue.
What specific services does Hamden Assurance Risk Retention Group Inc. provide to its members?
As a risk retention group, it primarily provides liability insurance and risk management services to its members, which are typically businesses or professionals in a similar industry.
Why is officer compensation consistently reported as 0%?
This could indicate that officers are volunteers, compensated by a related entity, or that compensation is structured in a way that does not fall under 'officer compensation' on the 990 form. Further investigation into their operational structure would be needed.
How does the organization manage its significant asset base of over $100 million?
Given its role as a risk retention group, these assets likely represent reserves held to cover potential claims and liabilities for its members, managed according to insurance regulatory requirements.
Filing History
IRS 990 filing history for Hamden Assurance Risk Retention Group Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Hamden Assurance Risk Retention Group Inc's revenue has grown by 125.6%, moving from $439K to $990K. Total assets increased by 38.3% over the same period, from $79.4M to $109.9M. Total functional expenses rose by 160.2%, from $350K to $911K. In its most recent filing year (2023), Hamden Assurance Risk Retention Group Inc reported a surplus of $79K, with revenue exceeding expenses. The organization holds $109.8M in liabilities against $109.9M in assets (debt-to-asset ratio: 100.0%), resulting in net assets of $50K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $990K | $911K | $109.9M | $109.8M | — | — |
| 2022 | $963K | $950K | $87.9M | $87.9M | — | — |
| 2021 | $951K | $775K | $76.5M | $76.4M | — | View 990 |
| 2020 | $735K | $676K | $76.2M | $76.2M | — | View 990 |
| 2019 | $654K | $652K | $91.9M | $91.8M | — | View 990 |
| 2018 | $566K | $526K | $64.2M | $64.2M | — | View 990 |
| 2017 | $542K | $470K | $71.5M | $71.5M | — | View 990 |
| 2016 | $525K | $467K | $95.3M | $94.5M | — | View 990 |
| 2015 | $590K | $495K | $94.9M | $94.1M | — | View 990 |
| 2014 | $636K | $598K | $88.4M | $86.7M | — | View 990 |
| 2013 | $499K | $394K | $93.2M | $91.5M | — | View 990 |
| 2012 | $485K | $364K | $88.2M | $86.7M | — | View 990 |
| 2011 | $439K | $350K | $79.4M | $77.9M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $990K, expenses of $911K, and assets of $109.9M (revenue +2.8% year-over-year).
- 2022: Revenue of $963K, expenses of $950K, and assets of $87.9M (revenue +1.3% year-over-year).
- 2021: Revenue of $951K, expenses of $775K, and assets of $76.5M (revenue +29.5% year-over-year).
- 2020: Revenue of $735K, expenses of $676K, and assets of $76.2M (revenue +12.3% year-over-year).
- 2019: Revenue of $654K, expenses of $652K, and assets of $91.9M (revenue +15.4% year-over-year).
- 2018: Revenue of $566K, expenses of $526K, and assets of $64.2M (revenue +4.6% year-over-year).
- 2017: Revenue of $542K, expenses of $470K, and assets of $71.5M (revenue +3.2% year-over-year).
- 2016: Revenue of $525K, expenses of $467K, and assets of $95.3M (revenue -11.1% year-over-year).
- 2015: Revenue of $590K, expenses of $495K, and assets of $94.9M (revenue -7.1% year-over-year).
- 2014: Revenue of $636K, expenses of $598K, and assets of $88.4M (revenue +27.4% year-over-year).
- 2013: Revenue of $499K, expenses of $394K, and assets of $93.2M (revenue +2.8% year-over-year).
- 2012: Revenue of $485K, expenses of $364K, and assets of $88.2M (revenue +10.6% year-over-year).
- 2011: Revenue of $439K, expenses of $350K, and assets of $79.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hamden Assurance Risk Retention Group Inc:
Data Sources and Methodology
This transparency report for Hamden Assurance Risk Retention Group Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.