Housing Authority Insurance Inc
- Assets
- $3.5m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Cheshire, CT
- Founding
- 10/1989
- Data as of
- 12/2021
- 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 12/2021, Housing Authority Insurance Inc generated $1.5m 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 (20.0%) each year. All expenses for the organization totaled $1.9m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (18.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Housing Authority Insurance Inc has awarded 35 individual grants totaling $8,156,037. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
DEVELOPMENT AND MARKETING OF RISK MANAGEMENT AND 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 |
|---|---|---|---|
Name Not Listed Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cone Communications Llc Public Relations Services | 12/30/16 | $457,637 |
Housing Insurance Services Inc Insurance Services | 12/30/16 | $119,047 |
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 | $1,500,000 |
| Investment income | $0 |
| 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 | $1,500,000 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $375,312 |
| Grants and other assistance to domestic individuals. | $111,375 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $329,550 |
| 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 | $182,500 |
| Pension plan accruals and contributions | $25,608 |
| Other employee benefits | $68,571 |
| Payroll taxes | $13,731 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,537 |
| Fees for services: Accounting | $16,947 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $49,920 |
| Advertising and promotion | $571 |
| Office expenses | $13,645 |
| Information technology | $15,021 |
| Royalties | $0 |
| Occupancy | $3,597 |
| Travel | $1,899 |
| 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 | $13,134 |
| Insurance | $0 |
| All other expenses | $8,487 |
| Total functional expenses | $1,861,965 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,232,572 |
| Savings and temporary cash investments | $0 |
| 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 | $140,792 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,140,944 |
| Total assets | $3,514,308 |
| Accounts payable and accrued expenses | $40,580 |
| 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 | $44,730 |
| Total liabilities | $85,310 |
| Net assets without donor restrictions | $2,288,055 |
| Net assets with donor restrictions | $1,140,943 |
| 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 | $3,514,308 |
Grants Awarded
Over the last fiscal year, Housing Authority Insurance Inc has awarded $346,252 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Cheshire, CT PURPOSE: GENERAL SUPPORT OF AHAB'S PROGRAMS AND OPERATIONS, INCLUDING CARRYING OUT ACTIVITIES TO CREATE AN ACCREDITATION SYSTEM FOR PUBLIC AND AFFORDABLE HOUSING. | $320,000 |
Washington Dc, DC PURPOSE: General donation to Public Housing Authorities Directors Association (PHADA) | $10,852 |
Trumbull, CT PURPOSE: General donation to Make-A-Wish Foundation of Connecticut | $10,000 |
Shelburne, VT PURPOSE: To fund tuition for Harry House scholarship | $5,400 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Centers For Care Health Plan Bronx, NY | $49,972,187 | $33,212,808 |
Lufthansa German Airlines Long Term Disability Benefits Pl Tr Uniondale, NY | $2,508,054 | $15,798,770 |
Welfare Fund Heat And Frost Insulators Local 12 Long Island City, NY | $34,847,538 | $18,361,265 |
Centers For Care Health Plan co Bronx Funding LLC Bronx, NY | $25,788,041 | $17,894,242 |
Rvc Insurance Company Inc Rockville Centre, NY | $295,933,062 | $29,353,576 |
Workers Compensation Rating & Inspection Bureau Of Massachusetts Boston, MA | $5,354,102 | $14,107,394 |
Bakers Union Local 453 Welfare Fund Mount Kisco, NY | $6,346,834 | $11,690,505 |
Insurance Fraud Bureau Of Massachusetts Boston, MA | $5,432,137 | $11,153,060 |
Massachusetts Insurers Insolvency Fund Boston, MA | $220,667,916 | $27,762,839 |
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 |