Independent Insurance Agents & Brokers Of New York Inc
Independent Insurance Agents & Brokers Of New York Inc maintains stable finances with no reported officer compensation.
EIN: 150544434 · Dewitt, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $5.7M |
| Total Expenses | $2.6M |
| Program Spending | 70% |
| CEO/Top Officer Pay | $2 |
| Net Assets | $2.5M |
| Transparency Score | 85/100 |
Is Independent Insurance Agents & Brokers Of New York Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Independent Insurance Agents & Brokers Of New York Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Independent Insurance Agents & Brokers Of New York Inc
Independent Insurance Agents & Brokers Of New York Inc (EIN: 150544434) is a nonprofit organization based in Dewitt, NY. The organization reported total revenue of $5.7M and total assets of $3.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Independent Insurance Agents & Brokers Of New York Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Independent Insurance Agents & Brokers Of New York Inc is a mid-size nonprofit that has been operating for 67 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of -0.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.7M |
| Total Expenses | $2.6M |
| Surplus / Deficit | +$56K |
| Total Assets | $3.5M |
| Total Liabilities | $1.1M |
| Net Assets | $2.5M |
| Operating Margin | 2.1% |
| Debt-to-Asset Ratio | 30.0% |
| Months of Reserves | 16.2 months |
Financial Health Grade: A
In 2023, Independent Insurance Agents & Brokers Of New York Inc reported a surplus of $56K with revenue exceeding expenses, holds 16.2 months of operating reserves (strong position), has a debt-to-asset ratio of 30.0% (moderate leverage).
Financial Trends
Over 12 years of filings (2012–2023), Independent Insurance Agents & Brokers Of New York Inc's revenue has declined at a compound annual growth rate (CAGR) of -0.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -3.7% | +4.9% | -3.5% |
| 2022 | +19.7% | +4.9% | +7.2% |
| 2021 | -9.1% | -1.6% | +21.7% |
| 2020 | +2.6% | -4.0% | +0.4% |
| 2019 | +0.1% | -3.8% | +4.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1959 |
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 Independent Insurance Agents & Brokers Of New York Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Independent Insurance Agents & Brokers Of New York Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $56K, with revenue exceeding expenses.
- Debt-to-asset ratio: 30.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers receive salaries from the organization, which is highly unusual for an organization of this size with revenues exceeding $2 million annually.
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 Independent Insurance Agents & Brokers Of New York Inc's IRS 990 filings:
- Lack of detailed functional expense breakdown prevents full spending efficiency analysis
- Increasing liabilities over recent years, from $378,569 in 2017 to $1,065,900 in 2023, warrants further investigation.
Strengths
The following positive indicators were identified for Independent Insurance Agents & Brokers Of New York Inc:
- Consistent reporting of 0% officer compensation, indicating strong financial stewardship regarding executive pay.
- 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.
Frequently Asked Questions about Independent Insurance Agents & Brokers Of New York Inc
Is Independent Insurance Agents & Brokers Of New York Inc a legitimate charity?
Independent Insurance Agents & Brokers Of New York Inc (EIN: 150544434) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 12 years of IRS 990 filings on record. Total revenue: $5.7M. 2 red flags identified. 4 strengths noted. Financial health grade: A.
How does Independent Insurance Agents & Brokers Of New York Inc spend its money?
Independent Insurance Agents & Brokers Of New York Inc directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Independent Insurance Agents & Brokers Of New York Inc tax-deductible?
Independent Insurance Agents & Brokers Of New York Inc is registered as a tax-exempt nonprofit (EIN: 150544434). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Independent Insurance Agents & Brokers Of New York Inc CEO make?
Independent Insurance Agents & Brokers Of New York Inc's highest-compensated officer earns $2 annually. The organization reported $5.7M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Independent Insurance Agents & Brokers Of New York Inc's spending goes to programs?
Independent Insurance Agents & Brokers Of New York Inc directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Independent Insurance Agents & Brokers Of New York Inc located?
Independent Insurance Agents & Brokers Of New York Inc is headquartered in Dewitt, New York and files with the IRS under EIN 150544434.
How many years of IRS 990 filings does Independent Insurance Agents & Brokers Of New York Inc have?
Independent Insurance Agents & Brokers Of New York Inc has 12 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 $5.7M in total revenue.
How does Independent Insurance Agents & Brokers Of New York Inc manage to operate without officer compensation?
The filings consistently show 0% officer compensation, suggesting that executive leadership may be entirely volunteer-based or compensated through other means not reported as officer compensation on the 990, such as through a related for-profit entity or by an external employer.
What are the primary sources of revenue for the organization?
While the specific breakdown isn't provided, the consistent revenue figures over a decade suggest stable income streams, likely from membership dues, conferences, or services related to the insurance industry, given its name.
What is the organization's strategy for managing increasing liabilities?
Liabilities have increased from $378,569 in 2017 to $1,065,900 in 2023. While assets have also grown, understanding the nature of these liabilities (e.g., deferred revenue, payables) and the organization's strategy for managing them would provide further insight into financial health.
Filing History
IRS 990 filing history for Independent Insurance Agents & Brokers Of New York Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Independent Insurance Agents & Brokers Of New York Inc's revenue has declined by 2%, moving from $2.7M to $2.7M. Total assets increased by 76.5% over the same period, from $2.0M to $3.5M. Total functional expenses fell by 5.2%, from $2.8M to $2.6M. In its most recent filing year (2023), Independent Insurance Agents & Brokers Of New York Inc reported a surplus of $56K, with revenue exceeding expenses. The organization holds $1.1M in liabilities against $3.5M in assets (debt-to-asset ratio: 30.0%), resulting in net assets of $2.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.7M | $2.6M | $3.5M | $1.1M | — | View 990 |
| 2022 | $2.8M | $2.5M | $3.7M | $1.1M | — | View 990 |
| 2021 | $2.3M | $2.4M | $3.4M | $684K | — | — |
| 2020 | $2.6M | $2.4M | $2.8M | $543K | — | — |
| 2019 | $2.5M | $2.5M | $2.8M | $534K | — | View 990 |
| 2018 | $2.5M | $2.6M | $2.7M | $395K | — | — |
| 2017 | $3.0M | $3.1M | $2.7M | $379K | — | View 990 |
| 2016 | $3.3M | $2.7M | $2.8M | $453K | — | View 990 |
| 2015 | $2.8M | $2.9M | $2.4M | $650K | — | View 990 |
| 2014 | $3.1M | $2.8M | $2.4M | $624K | — | View 990 |
| 2013 | $2.8M | $2.8M | $2.1M | $501K | — | View 990 |
| 2012 | $2.7M | $2.8M | $2.0M | $448K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.7M, expenses of $2.6M, and assets of $3.5M (revenue -3.7% year-over-year).
- 2022: Revenue of $2.8M, expenses of $2.5M, and assets of $3.7M (revenue +19.7% year-over-year).
- 2021: Revenue of $2.3M, expenses of $2.4M, and assets of $3.4M (revenue -9.1% year-over-year).
- 2020: Revenue of $2.6M, expenses of $2.4M, and assets of $2.8M (revenue +2.6% year-over-year).
- 2019: Revenue of $2.5M, expenses of $2.5M, and assets of $2.8M (revenue +0.1% year-over-year).
- 2018: Revenue of $2.5M, expenses of $2.6M, and assets of $2.7M (revenue -18.0% year-over-year).
- 2017: Revenue of $3.0M, expenses of $3.1M, and assets of $2.7M (revenue -8.8% year-over-year).
- 2016: Revenue of $3.3M, expenses of $2.7M, and assets of $2.8M (revenue +18.0% year-over-year).
- 2015: Revenue of $2.8M, expenses of $2.9M, and assets of $2.4M (revenue -8.2% year-over-year).
- 2014: Revenue of $3.1M, expenses of $2.8M, and assets of $2.4M (revenue +10.5% year-over-year).
- 2013: Revenue of $2.8M, expenses of $2.8M, and assets of $2.1M (revenue +1.8% year-over-year).
- 2012: Revenue of $2.7M, expenses of $2.8M, and assets of $2.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Independent Insurance Agents & Brokers Of New York Inc:
Data Sources and Methodology
This transparency report for Independent Insurance Agents & Brokers Of New York 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.