Insurance Federation Of North Carolina Inc
Insurance Federation Of North Carolina Inc maintains strong assets and zero liabilities, with no reported officer compensation.
EIN: 201715550 · Raleigh, NC · NTEE: S31 · Updated: 2026-03-28
Is Insurance Federation Of North Carolina Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Insurance Federation Of North Carolina Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Insurance Federation Of North Carolina Inc
Insurance Federation Of North Carolina Inc (EIN: 201715550) is a nonprofit organization based in Raleigh, NC, classified under NTEE code S31. The organization reported total revenue of $300K and total assets of $620K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Insurance Federation Of North Carolina Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Insurance Federation Of North Carolina Inc is a small nonprofit that has been operating for 21 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -2.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $263K |
| Total Expenses | $280K |
| Surplus / Deficit | $-16,806 |
| Total Assets | $569K |
| Net Assets | $569K |
| Operating Margin | -6.4% |
| Months of Reserves | 24.4 months |
Financial Health Grade: B
In 2023, Insurance Federation Of North Carolina Inc reported a deficit of $17K with expenses exceeding revenue, holds 24.4 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Insurance Federation Of North Carolina Inc's revenue has declined at a compound annual growth rate (CAGR) of -2.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +34.8% | +2.7% | -2.9% |
| 2022 | -22.9% | +26.4% | -11.7% |
| 2021 | +7.0% | -5.0% | +6.0% |
| 2020 | -25.8% | +3.2% | +1.5% |
| 2019 | +17.4% | +2.1% | +19.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2005 |
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 Insurance Federation Of North Carolina 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, Insurance Federation Of North Carolina 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 deficit of $17K, with expenses exceeding revenue.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to officers. This suggests a volunteer-led or very lean executive structure, which is a positive for resource allocation.
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 Insurance Federation Of North Carolina Inc's IRS 990 filings:
- Occasional operating deficits (e.g., 2023, 2022) where expenses exceeded revenue.
Strengths
The following positive indicators were identified for Insurance Federation Of North Carolina Inc:
- Consistent reporting of zero liabilities across all filing periods.
- No reported officer compensation, indicating efficient use of funds.
- Strong asset base relative to annual revenue (e.g., $568,798 assets vs. $263,176 revenue in 2023).
- Long history of IRS 990 filings (13 periods), demonstrating transparency and compliance.
- Stable revenue streams over the past decade.
Frequently Asked Questions about Insurance Federation Of North Carolina Inc
Is Insurance Federation Of North Carolina Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Insurance Federation Of North Carolina Inc (EIN: 201715550) some concerns. Mission Score: 85/100. 1 red flag identified, 5 strengths noted.
How does Insurance Federation Of North Carolina Inc spend its money?
Insurance Federation Of North Carolina Inc directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Insurance Federation Of North Carolina Inc tax-deductible?
Insurance Federation Of North Carolina Inc is registered as a tax-exempt nonprofit (EIN: 201715550). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Insurance Federation Of North Carolina Inc financially stable?
Yes, the organization appears financially stable, consistently holding significant assets (e.g., $568,798 in 2023) and reporting zero liabilities across all 13 filing periods, indicating a strong balance sheet.
Does Insurance Federation Of North Carolina Inc pay its officers?
No, the IRS 990 filings consistently show 0% officer compensation, meaning no salaries are reported for officers.
What are the revenue trends for Insurance Federation Of North Carolina Inc?
Revenue has fluctuated but generally remained stable over the past decade, ranging from a low of $155,258 in 2015 to a high of $318,876 in 2019, with the latest reported revenue at $263,176 in 2023.
Has Insurance Federation Of North Carolina Inc operated at a deficit?
Yes, in several periods, expenses have exceeded revenue, such as in 2023 ($279,982 expenses vs. $263,176 revenue) and 2022 ($272,566 expenses vs. $195,236 revenue). However, these deficits have not led to liabilities, suggesting they are covered by existing assets.
Filing History
IRS 990 filing history for Insurance Federation Of North Carolina Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Insurance Federation Of North Carolina Inc's revenue has declined by 25.3%, moving from $352K to $263K. Total assets increased by 26.6% over the same period, from $449K to $569K. Total functional expenses fell by 38.9%, from $458K to $280K. In its most recent filing year (2023), Insurance Federation Of North Carolina Inc reported a deficit of $17K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $263K | $280K | $569K | $0 | — | View 990 |
| 2022 | $195K | $273K | $586K | $0 | — | View 990 |
| 2021 | $253K | $216K | $663K | $0 | — | — |
| 2020 | $237K | $227K | $625K | $0 | — | — |
| 2019 | $319K | $220K | $616K | $0 | — | View 990 |
| 2018 | $272K | $216K | $517K | $0 | — | View 990 |
| 2017 | $260K | $200K | $461K | $0 | — | View 990 |
| 2016 | $160K | $200K | $401K | $0 | — | View 990 |
| 2015 | $155K | $196K | $441K | $0 | — | View 990 |
| 2014 | $210K | $164K | $482K | $0 | — | View 990 |
| 2013 | $252K | $194K | $436K | $0 | — | View 990 |
| 2012 | $232K | $303K | $378K | $0 | — | View 990 |
| 2011 | $352K | $458K | $449K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $263K, expenses of $280K, and assets of $569K (revenue +34.8% year-over-year).
- 2022: Revenue of $195K, expenses of $273K, and assets of $586K (revenue -22.9% year-over-year).
- 2021: Revenue of $253K, expenses of $216K, and assets of $663K (revenue +7.0% year-over-year).
- 2020: Revenue of $237K, expenses of $227K, and assets of $625K (revenue -25.8% year-over-year).
- 2019: Revenue of $319K, expenses of $220K, and assets of $616K (revenue +17.4% year-over-year).
- 2018: Revenue of $272K, expenses of $216K, and assets of $517K (revenue +4.3% year-over-year).
- 2017: Revenue of $260K, expenses of $200K, and assets of $461K (revenue +62.3% year-over-year).
- 2016: Revenue of $160K, expenses of $200K, and assets of $401K (revenue +3.3% year-over-year).
- 2015: Revenue of $155K, expenses of $196K, and assets of $441K (revenue -26.0% year-over-year).
- 2014: Revenue of $210K, expenses of $164K, and assets of $482K (revenue -16.7% year-over-year).
- 2013: Revenue of $252K, expenses of $194K, and assets of $436K (revenue +8.7% year-over-year).
- 2012: Revenue of $232K, expenses of $303K, and assets of $378K (revenue -34.3% year-over-year).
- 2011: Revenue of $352K, expenses of $458K, and assets of $449K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Insurance Federation Of North Carolina Inc:
Data Sources and Methodology
This transparency report for Insurance Federation Of North Carolina 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.