Professional Insurance Agents Of New York State Inc is located in Glenmont, NY. The organization was established in 1964. According to its NTEE Classification (Y03) the organization is classified as: Professional Societies & Associations, 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. Professional Insurance Agents Of New York State Inc 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 12/2022, Professional Insurance Agents Of New York State Inc generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $1.8m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.7%) per year over the past 8 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE INDEPENDENT INSURANCE AGENCY SYSTEM IN NYS THROUGH ITS EDUCATIONAL AND PROMOTIONAL EFFORTS THROUGHOUT THE STATE OF NEW YORK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTING THE INDEPENDENT INSURANCE AGENCY SYSTEM THROUGH EDUCATIONAL AND PROMOTIONAL PROGRAMS THROUGHOUT THE STATE OF NEW YORK.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Gary Slavin Cltc CIC President-Elect | OfficerTrustee | 1 | $0 |
Raymond Gillis Sr Fic Ficf Secretary | OfficerTrustee | 1 | $0 |
David L Sidle CIC Cpia President | OfficerTrustee | 1 | $0 |
Michael A Loguercio Jr Treasurer | OfficerTrustee | 1 | $0 |
Richard Andrews Lutcf First Vice President | OfficerTrustee | 1 | $0 |
Jason E Bartow Aai Cpia Vice President | OfficerTrustee | 1 | $0 |
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 | $1,608,818 |
Investment income | $121,652 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$89,445 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $1,641,025 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $0 |
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 | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $0 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $11,937 |
Fees for services: Other | $0 |
Advertising and promotion | $0 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $11,835 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $129,784 |
Interest | $3,347 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $0 |
All other expenses | $202,188 |
Total functional expenses | $1,789,623 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $22,220 |
Savings and temporary cash investments | $3,679 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $26,083 |
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 | $50,913 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $9,501,565 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $9,604,460 |
Accounts payable and accrued expenses | $10,224 |
Grants payable | $0 |
Deferred revenue | $430,020 |
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 | $43,296 |
Total liabilities | $483,540 |
Net assets without donor restrictions | $9,120,920 |
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 | $9,604,460 |
Organization Name | Assets | Revenue |
---|---|---|
Pennsylvania Professional Liability Joint Underwriting Association Blue Bell, PA | $353,920,542 | $27,707,766 |
Risk And Insurance Management Society Inc New York, NY | $15,569,864 | $12,268,578 |
Automobile Insurers Bureau Of Massachusetts Boston, MA | $2,744,805 | $12,244,779 |
Excess Line Association Of New York New York, NY | $36,201,317 | $11,240,697 |
Guaranty Fund Management Services Inc Boston, MA | $2,796,356 | $6,554,035 |
Society Of Chartered Property & Casualty Underwriters Inc Malvern, PA | $9,708,613 | $4,213,152 |
Massachussetts Association Of Insurance Agents Inc Milford, MA | $15,366,665 | $4,849,036 |
Spark Institute Inc Simsbury, CT | $3,290,502 | $1,638,817 |
Professional Insurance Agents Of New York State Inc Glenmont, NY | $9,604,460 | $1,641,025 |
New York State Funeral Directors Association Inc Albany, NY | $12,864,504 | $2,564,009 |
Independent Insurance Agents Of Nj Trenton, NJ | $4,471,739 | $772,064 |
Ceg Of The Capital Region Inc Albany, NY | $954,995 | $1,640,221 |