Housing Authority Insurance Inc
- Assets
- $1.8m
- Revenue
- $612.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Cheshire, CT
- Founding
- 10/1989
- Data as of
- 12/2023
- EIN
- 22-2935104
Organization Overview
Housing Authority Insurance Inc is located in Cheshire, CT. The organization was established in 1989. 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. Housing Authority Insurance Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2023, Housing Authority Insurance Inc generated $612.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (23.9%) each year. All expenses for the organization totaled $2.4m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Housing Authority Insurance Inc has awarded 38 individual grants totaling $7,912,491. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
DEVELOPMENT AND MARKETING OF RISK MANAGEMENT & INSURANCE PROGRAMS FOR PUBLIC HOUSING AUTHORITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPMENT OF INSURANCE PROGRAMS FOR PUBLIC HOUSING AUTHORITIES; RISK MANAGEMENT EDUCATIONAL SERVICES FOR MEMBER PUBLIC HOUSING AUTHORITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edmund Malaspina President & CEO | OfficerTrustee | 1 | $0 |
Scott Bertrand Board Chair | Trustee | 1 | $0 |
Edwin Lowndes Board Member | Trustee | 1 | $0 |
Douglas Dzema Board Member | Trustee | 1 | $0 |
James Dipaolo Board Member | Trustee | 1 | $0 |
Jane W Smith Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Housing Insurance Services Inc Insurance Services | 12/30/16 | $119,047 |
Cone Communications Llc Public Relations Services | 12/30/16 | $457,637 |
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 | $500,001 |
| Investment income | $112,745 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $612,920 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $328,220 |
| Grants and other assistance to domestic individuals. | $108,484 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $268,030 |
| 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 | $160,487 |
| Pension plan accruals and contributions | $20,860 |
| Other employee benefits | $39,783 |
| Payroll taxes | $10,335 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,116 |
| Fees for services: Accounting | $25,658 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $23,251 |
| Advertising and promotion | $14,454 |
| Office expenses | $4,055 |
| Information technology | $9,054 |
| Royalties | $0 |
| Occupancy | $2,873 |
| Travel | $12,720 |
| 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 | $5,132 |
| Insurance | $5,027 |
| All other expenses | $6,567 |
| Total functional expenses | $2,419,175 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,771,104 |
| 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 | $30,041 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,801,145 |
| Accounts payable and accrued expenses | $73,326 |
| 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 | $376,487 |
| Total liabilities | $449,813 |
| Net assets without donor restrictions | $1,351,332 |
| 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 | $1,801,145 |
Grants Awarded
Over the last fiscal year, Housing Authority Insurance Inc has awarded $315,400 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
ICCIE PURPOSE: 2023 HARRY HOUSE SCHOLARSHIP DONATION | $5,400 |
NATIONAL PUBLIC HOUSING MUSEUM PURPOSE: DONATION TO NATIONAL PUBLIC HOUSING MUSEUM 2023 | $300,000 |
MAKE-A-WISH FOUNDATION OF CONNECTICUT INC PURPOSE: FUNDED TRIP TO AULANI FOR MAKE-A-WISH RECIPIENT | $10,000 |