New York Automobile Insurance Plan
- Assets
- $1.0m
- Revenue
- $3.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Johnston, RI
- Founding
- 11/1954
- Data as of
- 12/2021
- EIN
- 23-7017182
Organization Overview
New York Automobile Insurance Plan is located in Johnston, RI. The organization was established in 1954. According to its NTEE Classification (Y01) the organization is classified as: Alliances & Advocacy, 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. New York 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, New York Automobile Insurance Plan generated $3.8m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $3.4m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.5%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AUTO LIABILITY AND PHYSICAL DAMAGES COVERAGES TO THOSE INSUREDS WHO ARE UNABLE TO OBTAIN SUCH AUTO INSURANCE IN THE VOLUNTARY MARKET.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO MAKE MOTOR VEHICLE INSURANCE AVAILABLE FOR THOSE PERSONS NOT ABLE TO OBTAIN COVERAGE IN THE VOLUNTARY MARKET.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Reynolds Gov Comm Member | Trustee | 2 | $3,600 |
Garrett Duffy Gov Comm Member | Trustee | 2 | $2,850 |
Stuart Fries Gov Comm Member | Trustee | 2 | $2,400 |
Scott Lobel Gov Comm Member | Trustee | 2 | $2,100 |
Susan Hrynyk Gov Comm Member | Trustee | 2 | $1,800 |
Richard Signorelli Gov Comm Member | Trustee | 2 | $1,350 |
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 | $3,792,840 |
| Investment income | $43 |
| 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 | $3,794,110 |
| 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 | $1,359,667 |
| Pension plan accruals and contributions | $208,731 |
| Other employee benefits | $171,607 |
| Payroll taxes | $108,491 |
| Fees for services: Management | $582,356 |
| Fees for services: Legal | $27,996 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $27,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $54,605 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $475,176 |
| Travel | $39,285 |
| 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 | $49,919 |
| Insurance | $29,419 |
| All other expenses | $27,546 |
| Total functional expenses | $3,427,563 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $272,826 |
| Savings and temporary cash investments | $303,225 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $153,028 |
| 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 | $47,951 |
| Net Land, buildings, and equipment | $254,752 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,031,782 |
| Accounts payable and accrued expenses | $457,657 |
| 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 | $2,229,694 |
| Total liabilities | $2,687,351 |
| Net assets without donor restrictions | $0 |
| 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 | -$1,655,569 |
| Total liabilities and net assets/fund balances | $1,031,782 |