Nysrta Insurance Plan
- Assets
- $1.1m
- Revenue
- $101.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Amsterdam, NY
- Founding
- 08/1996
- Data as of
- 12/2021
- EIN
- 14-6066944
Organization Overview
Nysrta Insurance Plan is located in Amsterdam, NY. The organization was established in 1996. 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. Nysrta Insurance Plan is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2021, Nysrta Insurance Plan generated $101.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $81.6k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE VARIOUS ASSISTANCE AND INSURANCE COVERAGES THROUGH GROUP INSURANCE POLICIES ISSUED TO CONTRIBUTING MEMBERS (AND THEIR FAMILIES) OF NEW YORK STATE RETIRED TEACHERS' ASSOCIATION, INC., A RELATED NOT-FOR-PROFIT TRADE ASSOCIATION FOR RETIRED EDUCATORS WHO TAUGHT IN OR CURRENTLY RESIDE IN NEW YORK STATE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE VARIOUS INSURANCE COVERAGES THROUGH GROUP INSURANCE POLICIES ISSUED TO CONTRIBUTING MEMBERS OF NYSTRA, INC. THAT TAUGHT OR RESIDE IN NEW YORK STATE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Joyce Chair | OfficerTrustee | 2 | $0 |
Thomas Reed Assistant Treasurer | OfficerTrustee | 2 | $0 |
Mary Kathleen Bassett Secretary-Treasurer | Officer | 2 | $0 |
Ronald Wilson Trustee | Trustee | 2 | $0 |
Carlyle T Campany Trustee | Trustee | 2 | $0 |
Diane E Hahn Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $17,940 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $83,851 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $101,791 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $31,160 |
| Grants and other assistance to domestic individuals. | $5,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $17,500 |
| Fees for services: Legal | $1,475 |
| Fees for services: Accounting | $13,180 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,612 |
| Fees for services: Other | $56 |
| Advertising and promotion | $0 |
| Office expenses | $8 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $657 |
| All other expenses | $0 |
| Total functional expenses | $81,648 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,155 |
| Savings and temporary cash investments | $33,553 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $125 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,111,890 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,985 |
| Total assets | $1,148,708 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $1,148,708 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,148,708 |
Grants Awarded
Over the last fiscal year, Nysrta Insurance Plan has awarded $31,160 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Amsterdam, NY PURPOSE: YORK STATE NEWSLETTER SUPPORT | $20,000 |
Amsterdam, NY PURPOSE: MEMBERSHIP RECRUITMENT CAMPAIGN SUPPORT | $11,160 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cement Masons-592 Welfare Fund Philadelphia, PA | $28,352,479 | $12,285,764 |
Massachusetts Insurers Insolvency Fund Boston, MA | $220,667,916 | $27,762,839 |
Pennsylvania Property And Casualty Insurance Guaranty Association Philadelphia, PA | $159,227,112 | $35,772,841 |
Itpe-Meba Nmu Annual Benefit Fund Cranford, NJ | $11,873,942 | $10,884,935 |
Pittsburgh Building Owners Welfare Fund Pittsburgh, PA | $5,835,714 | $9,211,628 |
Virginia Property And Casualty Insurance Luaranty Association Boston, MA | $164,456,339 | $15,741,691 |
House Staff Benefits Plan Of The Cir Long Island City, NY | $16,739,993 | $8,532,681 |
Massachusetts Credit Union Share Insurance Corporation Newton, MA | $143,887,479 | $8,027,079 |
Freelancers Consumer Operated And Oriented Program Of New Jersey Inc Cedar Knolls, NJ | $64,066,743 | $67,961,148 |
Pmta-Ila Vacation Fund Cherry Hill, NJ | $9,587,968 | $9,347,330 |
Workers Compensation Research Institute Cambridge, MA | $14,727,537 | $8,149,473 |
Electricians Welfare Fund-No 81 Scranton, PA | $15,969,478 | $8,238,937 |