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← HOUSING AUTHORITY INSURANCE INC

Form 990 for tax year 2022

Filed by HOUSING AUTHORITY INSURANCE INC.

Totals

Total revenue
$2,032,500
Total expenses
$2,303,911
Contributions and grants received
$0
Grants paid
$343,510
Program service revenue
$2,032,500
Investment income
$0
Other revenue
$0
Total assets, end of year
$3,277,630
Total liabilities, end of year
$120,043
Net assets or fund balances, end of year
$3,157,587
Program services expenses (Part IX)
$1,976,051
Management and general expenses
$327,860
Fundraising expenses
$0
Program service expenses (Part III)
$1,976,051

Program services were 85.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: MEMBERSHIP FEES

    total $2,032,500 · related or exempt $2,032,500

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $240,470 · program services $240,470

  • 2 · Grants to domestic individuals

    total $103,040 · program services $103,040

  • 4 · Benefits paid to or for members

    total $386,471 · program services $386,471

  • 7 · Other salaries and wages

    total $177,755 · program services $31,866 · management and general $145,889

  • 8 · Pension plan contributions

    total $22,185 · program services $4,710 · management and general $17,475

  • 9 · Other employee benefits

    total $58,256 · program services $14,469 · management and general $43,787

  • 10 · Payroll taxes

    total $12,081 · program services $2,649 · management and general $9,432

  • 11a · Fees: management

    total $11,653 · program services $2 · management and general $11,651

  • 11b · Fees: legal

    total $11,939 · program services $0 · management and general $11,939

  • 11c · Fees: accounting

    total $16,651 · program services $0 · management and general $16,651

  • 11g · Fees: other

    total $19,186 · program services $5,437 · management and general $13,749 · fundraising $0

  • 12 · Advertising and promotion

    total $12,570 · program services $6,285 · management and general $6,285

  • 13 · Office expenses

    total $12,981 · program services $1,979 · management and general $11,002

  • 14 · Information technology

    total $11,294 · program services $2,459 · management and general $8,835

  • 16 · Occupancy

    total $3,664 · program services $0 · management and general $3,664

  • 17 · Travel

    total $5,712 · program services $459 · management and general $5,253

  • 22 · Depreciation, depletion and amortization

    total $10,099 · program services $2,991 · management and general $7,108

  • 24a · Other expenses: Loss prevention fund expenses

    total $1,170,247 · program services $1,170,247

  • 24b · Other expenses: DUES & SUBSCRIPTIONS

    total $4,450 · program services $913 · management and general $3,537

  • 24c · Other expenses: PROFESSIONAL DEVELOPMENT

    total $4,103 · program services $271 · management and general $3,832

  • 24d · Other expenses: Member Reimbursement

    total $1,200 · program services $305 · management and general $895

  • 24e · All other expenses

    total $7,904 · program services $1,028 · management and general $6,876 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,232,572 · end of year $2,747,298

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $140,792 · end of year $22,148

  • 10a · Land, buildings and equipment: cost or other basis

    $0

  • 10b · Land, buildings and equipment: accumulated depreciation

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $1,140,944 · end of year $508,184

  • 17 · Accounts payable and accrued expenses

    beginning of year $40,580 · end of year $33,852

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $44,730 · end of year $86,191

  • 27 · Net assets without donor restrictions

    beginning of year $2,288,055 · end of year $2,821,278

  • 28 · Net assets with donor restrictions

    beginning of year $1,140,943 · end of year $336,309

Mission and programs · 2022

Mission

DEVELOPMENT AND MARKETING OF RISK MANAGEMENT AND INSURANCE PROGRAMS FOR PUBLIC HOUSING AUTHORITIES.

  • DEVELOPMENT OF INSURANCE PROGRAMS FOR PUBLIC HOUSING AUTHORITIES; RISK MANAGEMENT EDUCATIONAL SERVICES FOR MEMBER PUBLIC HOUSING AUTHORITIES.

    Expenses $1,976,051 · Grants $343,510 · Revenue $2,032,500

As filed on the 2022 return.

Listed in Part VII

  • Edmund Malaspina

    President and Chief Executive Officer

    Total calculated
    $908,489
    From this org
    $0
    From related orgs
    $815,401
    Other
    $93,088
    Hours/week
    1 + 36.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $490,428 related
    Bonus
    $0 + $324,973 related
    Other
    $0
    Deferred
    $0 + $48,656 related
    Nontaxable benefits
    $0 + $44,432 related
    Filer's total
    $0 + $908,489 related

  • Douglas Dzema

    Board Member

    Total calculated
    $41,424
    From this org
    $0
    From related orgs
    $41,424
    Other
    $0
    Hours/week
    1 + 3 related

  • Duane Hopkins

    Board Member

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Edelmiro Hinojosa

    Board Chair

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Edwin Lowndes

    Board Member

    Total calculated
    $42,576
    From this org
    $0
    From related orgs
    $42,576
    Other
    $0
    Hours/week
    1 + 3 related

  • Fernando Aniban

    Board Member

    Total calculated
    $39,200
    From this org
    $0
    From related orgs
    $39,200
    Other
    $0
    Hours/week
    1 + 3 related

  • James DiPaolo

    Board Member

    Total calculated
    $41,424
    From this org
    $0
    From related orgs
    $41,424
    Other
    $0
    Hours/week
    1 + 3 related

  • Jane W Smith

    Board Member

    Total calculated
    $41,000
    From this org
    $0
    From related orgs
    $41,000
    Other
    $0
    Hours/week
    1 + 3 related

  • Jeffery Patterson

    Board Member

    Total calculated
    $40,076
    From this org
    $0
    From related orgs
    $40,076
    Other
    $0
    Hours/week
    1 + 3 related

  • Kevin L Loso

    Board Member

    Total calculated
    $38,152
    From this org
    $0
    From related orgs
    $38,152
    Other
    $0
    Hours/week
    1 + 3 related

  • Mary Smith

    Board Member

    Total calculated
    $41,000
    From this org
    $0
    From related orgs
    $41,000
    Other
    $0
    Hours/week
    1 + 3 related

  • Richard Browne

    Board Member

    Total calculated
    $39,200
    From this org
    $0
    From related orgs
    $39,200
    Other
    $0
    Hours/week
    1 + 3 related

  • Rusty Young

    Board Member

    Total calculated
    $40,000
    From this org
    $0
    From related orgs
    $40,000
    Other
    $0
    Hours/week
    1 + 3 related

  • Scott Bertrand

    Board Vice Chair

    Total calculated
    $44,072
    From this org
    $0
    From related orgs
    $44,072
    Other
    $0
    Hours/week
    1 + 3 related

  • Vince Pearson

    Board Member

    Total calculated
    $39,052
    From this org
    $0
    From related orgs
    $39,052
    Other
    $0
    Hours/week
    1 + 3 related

  • Amy Galvin

    Chief Governance Officer & Corp Secretary

    Total calculated
    $422,362
    From this org
    $0
    From related orgs
    $350,073
    Other
    $72,289
    Hours/week
    1 + 36.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $234,671 related
    Bonus
    $0 + $115,402 related
    Other
    $0
    Deferred
    $0 + $43,959 related
    Nontaxable benefits
    $0 + $28,330 related
    Filer's total
    $0 + $422,362 related

  • Courtney Rice

    Chief Communications Officer

    Total calculated
    $355,027
    From this org
    $0
    From related orgs
    $271,404
    Other
    $83,623
    Hours/week
    5 + 32.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $180,852 related
    Bonus
    $0 + $90,552 related
    Other
    $0
    Deferred
    $0 + $40,191 related
    Nontaxable benefits
    $0 + $43,432 related
    Filer's total
    $0 + $355,027 related

  • Kenneth Jr Merrifield

    VP and Director of Account Management

    Total calculated
    $318,754
    From this org
    $0
    From related orgs
    $254,893
    Other
    $63,861
    Hours/week
    1 + 36.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $197,363 related
    Bonus
    $0 + $57,530 related
    Other
    $0
    Deferred
    $0 + $35,392 related
    Nontaxable benefits
    $0 + $28,469 related
    Filer's total
    $0 + $318,754 related

  • Paul Lagonigro

    Director of Finance

    Total calculated
    $324,192
    From this org
    $0
    From related orgs
    $242,166
    Other
    $82,026
    Hours/week
    1 + 36.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $185,222 related
    Bonus
    $0 + $56,944 related
    Other
    $0
    Deferred
    $0 + $38,594 related
    Nontaxable benefits
    $0 + $43,432 related
    Filer's total
    $0 + $324,192 related

  • Sherryl Sullivan

    Chief Insurance Officer

    Total calculated
    $404,215
    From this org
    $0
    From related orgs
    $346,786
    Other
    $57,429
    Hours/week
    1 + 36.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $237,586 related
    Bonus
    $0 + $109,200 related
    Other
    $0
    Deferred
    $0 + $41,691 related
    Nontaxable benefits
    $0 + $15,738 related
    Filer's total
    $0 + $404,215 related

  • Troy LePage

    Chief Operating Officer & Chief Financial Officer

    Total calculated
    $411,813
    From this org
    $0
    From related orgs
    $319,725
    Other
    $92,088
    Hours/week
    1 + 36.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $218,423 related
    Bonus
    $0 + $101,302 related
    Other
    $0
    Deferred
    $0 + $48,656 related
    Nontaxable benefits
    $0 + $43,432 related
    Filer's total
    $0 + $411,813 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
THE ORGANIZATION'S CEO IS COMPENSATED BY A RELATED ORGANIZATION UNDER A COMMON PAYMASTER ARRANGEMENT. THE RELATED ORGANIZATION USES the following methods to establish his compensation: Compensation committee, Compensation survey or study, and Approval by the board or compensation committee.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • HOUSING AUTHORITY RISK RETENTION GROUP INC

    PROVIDES LIABILITY INSURANCE COVERAGE TO MEMBERS OF PHA'S IN THE U.S. · VT

    Directly controlled by NA

  • HOUSING AUTHORITY PROPERTY INSURANCE A MUTUAL COMPANY

    PROVIDES PROPERTY INSURANCE COVERAGE TO MEMBERS OF PHA'S IN THE U.S. · VT

    Directly controlled by NA

  • HOUSING TELECOMMUNICATIONS INC

    501(c)(3) · PROVIDE EDUCATION & RISK CONTROL THROUGH NATIONAL TELECOMMUNICATIONS NETWORK · CT

    Directly controlled by NA

  • PUBLIC AND AFFORDABLE HOUSING RESEARCH CORPORATION

    501(c)(3) · PERFORMS RESEARCH PROJECTS OF PUBLIC & AFFORDABLE HOUSING · CT

    Directly controlled by NA

  • AFFORDABLE HOUSING ACCREDITATION BOARD

    501(c)(3) · ACCREDITATION of public housing authorities · DC

    Directly controlled by NA

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • HOUSING INVESTMENT GROUP INC

    C Corporation · HOLDING COMPANY · DE

    Directly controlled by NA

  • HOUSING ENTERPRISE INSURANCE COMPANY INC

    C Corporation · INSURANCE · VT

    Directly controlled by NA

  • HOUSING INSURANCE SERVICES INC

    C Corporation · INSURANCE AGENCY · CT

    Directly controlled by NA

  • INNOVATIVE HOUSING INSURANCE COMPANY INC

    C Corporation · INSURANCE COMPANY · VT

    Directly controlled by NA

  • HOUSING ALLIANCE GROUP LLC

    C Corporation · ASSISTING PUBLIC HOUSING AUTHORITIES · VT

    Directly controlled by NA

  • HOUSING SPECIALTY INSURANCE COMPANY INC

    C Corporation · INSURANCE · VT

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2022
Filed
10 November 2023
IRS schema version
2022v5.0
Source object
202313139349306131

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