Connecticut Automobile Insurance Plan
- Assets
- $28.8k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Johnston, RI
- Founding
- 11/1954
- Data as of
- 12/2021
- EIN
- 13-6194669
Organization Overview
Connecticut Automobile Insurance Plan is located in Johnston, RI. The organization was established in 1954. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Connecticut Automobile Insurance Plan is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Connecticut Automobile Insurance Plan generated $113.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.0%) each year. All expenses for the organization totaled $98.4k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (6.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
TO MAKE MOTOR VEHICLE INSURANCE AVAILABLE FOR PERSONSUNABLE TO OBTAIN COVERAGE IN THE VOLUNTARY MARKET.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Gov Comm Member | 0.25 | $0 | |
Michael Rivers Gov Comm Member | 0.25 | $0 | |
Joseph Bishopmbi Co Grp Llc Gov Comm Member | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Membership dues | $112,875 |
| Investment income | $3 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $118 |
| Total Revenue | $112,996 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $75,373 |
| Professional fees and other payments to independent contractors | $18,270 |
| Occupancy, rent, utilities, and maintenance | $4,093 |
| Printing, publications, postage, and shipping | $358 |
| Other expenses | $290 |
| Total expenses | $98,384 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $27,639 |
| Other assets | $0 |
| Total assets | $28,845 |
| Total liabilities | $117,692 |
| Net assets or fund balances | -$88,847 |
Peer Organizations
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|---|---|---|
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Virginia Property And Casualty Insurance Luaranty Association Boston, MA | $164,456,339 | $15,741,691 |
Massachusetts Credit Union Share Insurance Corporation Newton, MA | $143,887,479 | $8,027,079 |
Workers Compensation Research Institute Cambridge, MA | $14,727,537 | $8,149,473 |
Trust For Aquarion Co Welfare Benefits Bridgeport, CT | $16,181,846 | $8,880,527 |
Rhode Island Property & Casualty Insurance Guaranty Association Boston, MA | $20,211,661 | $1,211,306 |
Advance Mfg Co Inc Employees Benefit Trust Westfield, MA | $296,936 | $5,936,452 |
Jeol Usa Inc Voluntary Employees Benefit Plan Trust Peabody, MA | $1,948,079 | $4,838,408 |
Mutual Savings Central Fund Inc Woburn, MA | $526,717,944 | $6,907,559 |
Maine Insurance Guaranty Association Boston, MA | $35,291,460 | $3,682,476 |
New England Automotive Dealers Insurance Tr East Bridgwater, MA | $340,006 | $2,171,015 |
Carlingswitch Incorporated Employee Benefits Trust Plainville, CT | $36,590 | $2,078,418 |