Health Insurance Plan Of Greater New York
Health Insurance Plan Of Greater New York consistently operates with multi-billion dollar revenues and expenses, frequently incurring operational deficits while maintaining a growing asset base.
EIN: 131828429 · New York, NY · NTEE: E320 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $4.7B |
| Total Expenses | $5.4B |
| Program Spending | 98% |
| Net Assets | $442.6M |
| Transparency Score | 75/100 |
Is Health Insurance Plan Of Greater New York Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Health Insurance Plan Of Greater New York directs 98% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Health Insurance Plan Of Greater New York
Health Insurance Plan Of Greater New York (EIN: 131828429) is a nonprofit organization based in New York, NY, classified under NTEE code E320. The organization reported total revenue of $4.7B and total assets of $2.3B according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Health Insurance Plan Of Greater New York's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Health Insurance Plan Of Greater New York is a major nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 0.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $5.3B |
| Total Expenses | $5.4B |
| Surplus / Deficit | $-92,373,529 |
| Total Assets | $2.5B |
| Total Liabilities | $2.1B |
| Net Assets | $442.6M |
| Operating Margin | -1.7% |
| Debt-to-Asset Ratio | 82.4% |
| Months of Reserves | 5.6 months |
Financial Health Grade: C
In 2023, Health Insurance Plan Of Greater New York reported a deficit of $92.4M with expenses exceeding revenue, holds 5.6 months of operating reserves (adequate), has a debt-to-asset ratio of 82.4% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Health Insurance Plan Of Greater New York's revenue has grown at a compound annual growth rate (CAGR) of 0.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -7.6% | -6.0% | +0.3% |
| 2022 | +2.7% | +0.9% | +29.0% |
| 2021 | +4.2% | +4.9% | +3.3% |
| 2020 | +6.2% | +6.4% | +5.5% |
| 2019 | +0.3% | -0.2% | +8.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 2004 |
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 Health Insurance Plan Of Greater New York with a Mission Score of 75 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: 2%
- programs: 98%
- fundraising: 0%
According to IRS 990 filings, Health Insurance Plan Of Greater New York allocates its expenses as follows: admin: 2%, programs: 98%, fundraising: 0%. With 98% 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 deficit of $92.4M, with expenses exceeding revenue.
- Debt-to-asset ratio: 82.4%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is highly unusual for an entity of this size and revenue. This suggests that executive compensation is either not paid to individuals classified as officers, or it is structured in a way that it is not reported in this specific section of the IRS 990.
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 Health Insurance Plan Of Greater New York's IRS 990 filings:
- 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
The following positive indicators were identified for Health Insurance Plan Of Greater New York:
- 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.
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) some concerns. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
How does Health Insurance Plan Of Greater New York spend its money?
Health Insurance Plan Of Greater New York directs 98% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Health Insurance Plan Of Greater New York tax-deductible?
Health Insurance Plan Of Greater New York is registered as a tax-exempt nonprofit (EIN: 131828429). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Health Insurance Plan Of Greater New York compare to similar nonprofits?
With a transparency score of 75/100 (Good), Health Insurance Plan Of Greater New York is above average for NTEE category E320 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Health Insurance Plan Of Greater New York located?
Health Insurance Plan Of Greater New York is headquartered in New York, New York and files with the IRS under EIN 131828429. It is classified under NTEE code E320.
How many years of IRS 990 filings does Health Insurance Plan Of Greater New York have?
Health Insurance Plan Of Greater New York 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 $4.7B in total revenue.
How does Health Insurance Plan Of Greater New York manage to sustain operations with consistent annual deficits?
While the organization frequently reports expenses exceeding revenues, its substantial and growing asset base (e.g., $2,520,238,921 in 202312) likely provides the necessary financial cushion and investment income to cover these operational shortfalls and maintain solvency.
What is the true executive compensation structure given the 0% reported officer compensation?
The consistent 0% officer compensation reported on the 990 forms suggests that executive compensation might be paid through a related entity, or the individuals in leadership roles are not classified as 'officers' for 990 reporting purposes, or they are compensated in a manner not captured by this specific line item. Further investigation into consolidated financial statements or related party transactions would be needed to understand the full picture.
Is the organization's NTEE code E320 (Health Maintenance Organizations) accurately reflected in its financial activities?
Given the multi-billion dollar revenues and expenses, and the nature of health insurance plans, the financial scale and operational patterns are consistent with a large Health Maintenance Organization, indicating the NTEE code is appropriate for its reported activities.
What is the long-term strategy for addressing the recurring operational deficits?
The recurring operational deficits (e.g., $92,373,529 in 202312) suggest that the organization may be drawing down on reserves or relying on investment income from its substantial assets to cover the gap. A long-term strategy would likely involve either increasing revenue streams, controlling expenses more tightly, or a combination of both to achieve a more balanced operational budget.
Filing History
IRS 990 filing history for Health Insurance Plan Of Greater New York showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Health Insurance Plan Of Greater New York's revenue has grown by 10.9%, moving from $4.8B to $5.3B. Total assets increased by 26.8% over the same period, from $2.0B to $2.5B. Total functional expenses rose by 17.9%, from $4.6B to $5.4B. In its most recent filing year (2023), Health Insurance Plan Of Greater New York reported a deficit of $92.4M, with expenses exceeding revenue. The organization holds $2.1B in liabilities against $2.5B in assets (debt-to-asset ratio: 82.4%), resulting in net assets of $442.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $5.3B | $5.4B | $2.5B | $2.1B | — | — |
| 2022 | $5.8B | $5.8B | $2.5B | $2.0B | — | View 990 |
| 2021 | $5.6B | $5.7B | $1.9B | $1.4B | — | View 990 |
| 2020 | $5.4B | $5.4B | $1.9B | $1.3B | — | View 990 |
| 2019 | $5.1B | $5.1B | $1.8B | $1.2B | — | — |
| 2018 | $5.1B | $5.1B | $1.6B | $1.0B | — | View 990 |
| 2017 | $4.8B | $5.0B | $1.5B | $882.4M | — | View 990 |
| 2016 | $4.9B | $5.2B | $1.8B | $978.5M | — | View 990 |
| 2015 | $5.2B | $5.2B | $2.0B | $960.2M | — | View 990 |
| 2014 | $5.2B | $5.5B | $2.3B | $1.0B | — | View 990 |
| 2013 | $5.0B | $4.9B | $2.2B | $697.0M | — | View 990 |
| 2012 | $5.1B | $4.9B | $2.2B | $787.1M | — | View 990 |
| 2011 | $4.8B | $4.6B | $2.0B | $715.6M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $5.3B, expenses of $5.4B, and assets of $2.5B (revenue -7.6% year-over-year).
- 2022: Revenue of $5.8B, expenses of $5.8B, and assets of $2.5B (revenue +2.7% year-over-year).
- 2021: Revenue of $5.6B, expenses of $5.7B, and assets of $1.9B (revenue +4.2% year-over-year).
- 2020: Revenue of $5.4B, expenses of $5.4B, and assets of $1.9B (revenue +6.2% year-over-year).
- 2019: Revenue of $5.1B, expenses of $5.1B, and assets of $1.8B (revenue +0.3% year-over-year).
- 2018: Revenue of $5.1B, expenses of $5.1B, and assets of $1.6B (revenue +5.0% year-over-year).
- 2017: Revenue of $4.8B, expenses of $5.0B, and assets of $1.5B (revenue -2.4% year-over-year).
- 2016: Revenue of $4.9B, expenses of $5.2B, and assets of $1.8B (revenue -4.5% year-over-year).
- 2015: Revenue of $5.2B, expenses of $5.2B, and assets of $2.0B (revenue -0.5% year-over-year).
- 2014: Revenue of $5.2B, expenses of $5.5B, and assets of $2.3B (revenue +3.0% year-over-year).
- 2013: Revenue of $5.0B, expenses of $4.9B, and assets of $2.2B (revenue -0.9% year-over-year).
- 2012: Revenue of $5.1B, expenses of $4.9B, and assets of $2.2B (revenue +6.0% year-over-year).
- 2011: Revenue of $4.8B, expenses of $4.6B, and assets of $2.0B.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Health Insurance Plan Of Greater New York:
Data Sources and Methodology
This transparency report for Health Insurance Plan Of Greater New York 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.