Life Insurance Council Of New York Incorporated
Life Insurance Council Of New York maintains stable finances with growing assets and no reported officer compensation.
EIN: 132928479 · Albany, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $6.8M |
| Total Expenses | $3.5M |
| Program Spending | 70% |
| Net Assets | $6.1M |
| Transparency Score | 75/100 |
Is Life Insurance Council Of New York Incorporated Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Life Insurance Council Of New York Incorporated directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Life Insurance Council Of New York Incorporated
Life Insurance Council Of New York Incorporated (EIN: 132928479) is a nonprofit organization based in Albany, NY. The organization reported total revenue of $6.8M and total assets of $7.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Life Insurance Council Of New York Incorporated's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Life Insurance Council Of New York Incorporated is a mid-size nonprofit that has been operating for 48 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -2.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.3M |
| Total Expenses | $3.5M |
| Surplus / Deficit | $-296,058 |
| Total Assets | $6.7M |
| Total Liabilities | $603K |
| Net Assets | $6.1M |
| Operating Margin | -9.1% |
| Debt-to-Asset Ratio | 9.0% |
| Months of Reserves | 22.7 months |
Financial Health Grade: B
In 2023, Life Insurance Council Of New York Incorporated reported a deficit of $296K with expenses exceeding revenue, holds 22.7 months of operating reserves (strong position), has a debt-to-asset ratio of 9.0% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Life Insurance Council Of New York Incorporated's revenue has declined at a compound annual growth rate (CAGR) of -2.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -7.4% | +4.8% | -4.1% |
| 2022 | +4.0% | +3.0% | +2.1% |
| 2021 | -17.4% | -5.0% | -2.1% |
| 2020 | -8.4% | +15.7% | +8.4% |
| 2019 | -7.1% | +2.0% | +7.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1978 |
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 Life Insurance Council Of New York Incorporated 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: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Life Insurance Council Of New York Incorporated 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 $296K, with expenses exceeding revenue.
- Debt-to-asset ratio: 9.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings. This suggests that either executive leadership is entirely volunteer-based, or their compensation is categorized under other operational expenses, which could obscure the true cost of executive management relative to the organization's size and revenue.
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 Life Insurance Council Of New York Incorporated's IRS 990 filings:
- Lack of detailed expense breakdown (program, admin, fundraising) in provided data
- Consistent 0% officer compensation without further explanation, potentially obscuring leadership costs
- NTEE Code is unknown, limiting understanding of its specific charitable sector and comparative analysis
Strengths
The following positive indicators were identified for Life Insurance Council Of New York Incorporated:
- Consistent financial stability with revenues generally exceeding expenses
- Significant growth in assets over the past decade, from $3.2M in 2014 to $6.7M in 2023
- Relatively low liabilities compared to assets in recent years (e.g., $603,179 liabilities vs. $6,706,868 assets in 2023)
Frequently Asked Questions about Life Insurance Council Of New York Incorporated
Is Life Insurance Council Of New York Incorporated a legitimate charity?
Life Insurance Council Of New York Incorporated (EIN: 132928479) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $6.8M. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Life Insurance Council Of New York Incorporated spend its money?
Life Insurance Council Of New York Incorporated directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Life Insurance Council Of New York Incorporated tax-deductible?
Life Insurance Council Of New York Incorporated is registered as a tax-exempt nonprofit (EIN: 132928479). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Life Insurance Council Of New York Incorporated's spending goes to programs?
Life Insurance Council Of New York Incorporated directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Life Insurance Council Of New York Incorporated located?
Life Insurance Council Of New York Incorporated is headquartered in Albany, New York and files with the IRS under EIN 132928479.
How many years of IRS 990 filings does Life Insurance Council Of New York Incorporated have?
Life Insurance Council Of New York Incorporated 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 $6.8M in total revenue.
Is Life Insurance Council Of New York Incorporated a good charity?
Based on the available financial data, the organization appears to be financially stable with growing assets and generally positive net income. However, without detailed expense breakdowns (program, administrative, fundraising) and information on its specific activities, a comprehensive assessment of its charitable effectiveness is limited.
What is the trend in the organization's revenue and expenses?
Revenue has fluctuated over the years, peaking around $5.3 million in 2016 and $4.8 million in 2018, then stabilizing around $3.2-$3.5 million in recent years (2021-2023). Expenses have generally followed a similar trend, with the organization typically operating with a slight surplus, though 2023 saw expenses ($3,546,770) slightly exceed revenue ($3,250,712).
How has the organization's asset base changed over time?
The organization's assets have shown a strong upward trend, increasing from $3,288,401 in 2014 to $6,706,868 in 2023, indicating consistent financial growth and accumulation of resources.
What is the significance of 0% officer compensation?
The consistent reporting of 0% officer compensation is unusual for an organization of this size and revenue. It could mean that the leadership is entirely volunteer, or that compensation is reported under other expense lines, which would reduce transparency regarding executive pay.
Filing History
IRS 990 filing history for Life Insurance Council Of New York Incorporated showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Life Insurance Council Of New York Incorporated's revenue has declined by 27%, moving from $4.5M to $3.3M. Total assets increased by 106.3% over the same period, from $3.3M to $6.7M. Total functional expenses fell by 20%, from $4.4M to $3.5M. In its most recent filing year (2023), Life Insurance Council Of New York Incorporated reported a deficit of $296K, with expenses exceeding revenue. The organization holds $603K in liabilities against $6.7M in assets (debt-to-asset ratio: 9.0%), resulting in net assets of $6.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.3M | $3.5M | $6.7M | $603K | — | — |
| 2022 | $3.5M | $3.4M | $7.0M | $815K | — | View 990 |
| 2021 | $3.4M | $3.3M | $6.9M | $401K | — | View 990 |
| 2020 | $4.1M | $3.5M | $7.0M | $579K | — | — |
| 2019 | $4.5M | $3.0M | $6.5M | $776K | — | View 990 |
| 2018 | $4.8M | $2.9M | $6.0M | $2.2M | — | View 990 |
| 2017 | $4.6M | $2.8M | $4.4M | $1.9M | — | View 990 |
| 2016 | $5.3M | $4.9M | $3.3M | $2.6M | — | View 990 |
| 2015 | $5.1M | $5.2M | $3.4M | $3.1M | — | View 990 |
| 2014 | $5.1M | $5.1M | $3.3M | $3.1M | — | View 990 |
| 2013 | $4.8M | $5.0M | $3.4M | $2.7M | — | View 990 |
| 2012 | $4.6M | $4.7M | $3.1M | $2.4M | — | View 990 |
| 2011 | $4.5M | $4.4M | $3.3M | $2.3M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.3M, expenses of $3.5M, and assets of $6.7M (revenue -7.4% year-over-year).
- 2022: Revenue of $3.5M, expenses of $3.4M, and assets of $7.0M (revenue +4.0% year-over-year).
- 2021: Revenue of $3.4M, expenses of $3.3M, and assets of $6.9M (revenue -17.4% year-over-year).
- 2020: Revenue of $4.1M, expenses of $3.5M, and assets of $7.0M (revenue -8.4% year-over-year).
- 2019: Revenue of $4.5M, expenses of $3.0M, and assets of $6.5M (revenue -7.1% year-over-year).
- 2018: Revenue of $4.8M, expenses of $2.9M, and assets of $6.0M (revenue +4.0% year-over-year).
- 2017: Revenue of $4.6M, expenses of $2.8M, and assets of $4.4M (revenue -13.1% year-over-year).
- 2016: Revenue of $5.3M, expenses of $4.9M, and assets of $3.3M (revenue +3.6% year-over-year).
- 2015: Revenue of $5.1M, expenses of $5.2M, and assets of $3.4M (revenue +0.7% year-over-year).
- 2014: Revenue of $5.1M, expenses of $5.1M, and assets of $3.3M (revenue +5.8% year-over-year).
- 2013: Revenue of $4.8M, expenses of $5.0M, and assets of $3.4M (revenue +5.4% year-over-year).
- 2012: Revenue of $4.6M, expenses of $4.7M, and assets of $3.1M (revenue +2.6% year-over-year).
- 2011: Revenue of $4.5M, expenses of $4.4M, and assets of $3.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Life Insurance Council Of New York Incorporated:
Data Sources and Methodology
This transparency report for Life Insurance Council Of New York Incorporated 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.