New York Insurance Association Inc
New York Insurance Association Inc. consistently generates surpluses and grows assets with no reported officer compensation.
EIN: 161521843 · Albany, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.5M |
| Total Expenses | $1.8M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $1.8 |
| Net Assets | $2.1M |
| Transparency Score | 85/100 |
Is New York Insurance Association Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
New York Insurance Association Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About New York Insurance Association Inc
New York Insurance Association Inc (EIN: 161521843) is a nonprofit organization based in Albany, NY. The organization reported total revenue of $2.5M and total assets of $2.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New York Insurance Association Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
New York Insurance Association Inc is a mid-size nonprofit that has been operating for 28 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.9M |
| Total Expenses | $1.8M |
| Surplus / Deficit | +$107K |
| Total Assets | $2.3M |
| Total Liabilities | $179K |
| Net Assets | $2.1M |
| Operating Margin | 5.6% |
| Debt-to-Asset Ratio | 7.8% |
| Months of Reserves | 15.2 months |
Financial Health Grade: A
In 2023, New York Insurance Association Inc reported a surplus of $107K with revenue exceeding expenses, holds 15.2 months of operating reserves (strong position), has a debt-to-asset ratio of 7.8% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), New York Insurance Association Inc's revenue has grown at a compound annual growth rate (CAGR) of 3.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +2.8% | +5.0% | +6.2% |
| 2022 | +18.8% | +12.1% | +5.1% |
| 2021 | +8.8% | +11.3% | +0.4% |
| 2020 | -6.7% | -4.9% | +3.0% |
| 2019 | +0.6% | +4.5% | +11.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1998 |
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 New York Insurance Association 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, New York Insurance Association Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $107K, with revenue exceeding expenses.
- Debt-to-asset ratio: 7.8%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is highly unusual for an organization of its size with revenues exceeding $1.8 million in recent years. This suggests either a volunteer-led executive team, compensation being covered by a related entity, or that compensation is not reported under 'officer compensation' in a way that is visible in these summaries.
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 New York Insurance Association Inc's IRS 990 filings:
- Unusually low or zero reported officer compensation, which may obscure true executive costs or structure.
Strengths
The following positive indicators were identified for New York Insurance Association Inc:
- Consistent generation of financial surpluses, indicating strong financial management (e.g., $107,095 surplus in 2023).
- Steady growth in assets over the past decade, from $1,472,830 in 2014 to $2,275,157 in 2023.
- Low liabilities relative to assets, suggesting a healthy balance sheet (e.g., $178,521 liabilities vs. $2,275,157 assets in 2023).
- Consistent filing of IRS 990 forms, demonstrating transparency in financial reporting.
Frequently Asked Questions about New York Insurance Association Inc
Is New York Insurance Association Inc a legitimate charity?
New York Insurance Association Inc (EIN: 161521843) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $2.5M. 1 red flag identified. 4 strengths noted. Financial health grade: A.
How does New York Insurance Association Inc spend its money?
New York Insurance Association Inc directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to New York Insurance Association Inc tax-deductible?
New York Insurance Association Inc is registered as a tax-exempt nonprofit (EIN: 161521843). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the New York Insurance Association Inc CEO make?
New York Insurance Association Inc's highest-compensated officer earns $1.8 annually. The organization reported $2.5M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of New York Insurance Association Inc's spending goes to programs?
New York Insurance Association Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is New York Insurance Association Inc located?
New York Insurance Association Inc is headquartered in Albany, New York and files with the IRS under EIN 161521843.
How many years of IRS 990 filings does New York Insurance Association Inc have?
New York Insurance Association 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 $2.5M in total revenue.
How does the New York Insurance Association Inc. fund its executive leadership if no officer compensation is reported?
The IRS 990 filings consistently show 0% officer compensation. This could mean executive roles are filled by volunteers, compensation is provided by a related entity, or it's reported under a different expense category not specified in the summary data.
What are the specific program activities that the New York Insurance Association Inc. undertakes?
Based solely on the financial data, the specific program activities are not detailed. Further investigation into the organization's public mission statements or detailed 990 forms would be necessary to understand its programs.
What is the organization's strategy for managing its growing asset base?
The organization has consistently grown its assets from $1.47 million in 2014 to $2.27 million in 2023. This indicates a strategy of retaining surpluses, but the specific investment or reserve policies are not detailed in the provided financial summary.
Filing History
IRS 990 filing history for New York Insurance Association Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), New York Insurance Association Inc's revenue has grown by 42.1%, moving from $1.3M to $1.9M. Total assets increased by 80.1% over the same period, from $1.3M to $2.3M. Total functional expenses rose by 61.1%, from $1.1M to $1.8M. In its most recent filing year (2023), New York Insurance Association Inc reported a surplus of $107K, with revenue exceeding expenses. The organization holds $179K in liabilities against $2.3M in assets (debt-to-asset ratio: 7.8%), resulting in net assets of $2.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.9M | $1.8M | $2.3M | $179K | — | — |
| 2022 | $1.8M | $1.7M | $2.1M | $207K | — | View 990 |
| 2021 | $1.6M | $1.5M | $2.0M | $60K | — | View 990 |
| 2020 | $1.4M | $1.4M | $2.0M | $64K | — | — |
| 2019 | $1.5M | $1.4M | $2.0M | $103K | — | View 990 |
| 2018 | $1.5M | $1.4M | $1.8M | $87K | — | View 990 |
| 2017 | $1.5M | $1.4M | $1.7M | $121K | — | — |
| 2016 | $1.5M | $1.5M | $1.5M | $85K | — | View 990 |
| 2015 | $1.4M | $1.4M | $1.5M | $115K | — | View 990 |
| 2014 | $1.5M | $1.4M | $1.5M | $110K | — | View 990 |
| 2013 | $1.4M | $1.4M | $1.4M | $38K | — | View 990 |
| 2012 | $1.4M | $1.3M | $1.4M | $47K | — | View 990 |
| 2011 | $1.3M | $1.1M | $1.3M | $59K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.9M, expenses of $1.8M, and assets of $2.3M (revenue +2.8% year-over-year).
- 2022: Revenue of $1.8M, expenses of $1.7M, and assets of $2.1M (revenue +18.8% year-over-year).
- 2021: Revenue of $1.6M, expenses of $1.5M, and assets of $2.0M (revenue +8.8% year-over-year).
- 2020: Revenue of $1.4M, expenses of $1.4M, and assets of $2.0M (revenue -6.7% year-over-year).
- 2019: Revenue of $1.5M, expenses of $1.4M, and assets of $2.0M (revenue +0.6% year-over-year).
- 2018: Revenue of $1.5M, expenses of $1.4M, and assets of $1.8M (revenue -1.0% year-over-year).
- 2017: Revenue of $1.5M, expenses of $1.4M, and assets of $1.7M (revenue +4.0% year-over-year).
- 2016: Revenue of $1.5M, expenses of $1.5M, and assets of $1.5M (revenue +4.1% year-over-year).
- 2015: Revenue of $1.4M, expenses of $1.4M, and assets of $1.5M (revenue -4.2% year-over-year).
- 2014: Revenue of $1.5M, expenses of $1.4M, and assets of $1.5M (revenue +5.6% year-over-year).
- 2013: Revenue of $1.4M, expenses of $1.4M, and assets of $1.4M (revenue +0.5% year-over-year).
- 2012: Revenue of $1.4M, expenses of $1.3M, and assets of $1.4M (revenue +4.5% year-over-year).
- 2011: Revenue of $1.3M, expenses of $1.1M, and assets of $1.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for New York Insurance Association Inc:
Data Sources and Methodology
This transparency report for New York Insurance Association 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.