Form 990 for tax year 2023
Filed by LIFE INSURANCE COUNCIL OF NEW YORK INCORPORATED.
Totals
- Total revenue
- $3,250,712
- Total expenses
- $3,546,770
- Contributions and grants received
- $0
- Grants paid
- $123,172
- Program service revenue
- $3,038,531
- Investment income
- $218,929
- Other revenue
- -$6,748
- Total assets, end of year
- $6,706,868
- Total liabilities, end of year
- $603,179
- Net assets or fund balances, end of year
- $6,103,689
- Program services expenses (Part IX)
- not reported
- Management and general expenses
- not reported
- Fundraising expenses
- not reported
- Program service expenses (Part III)
- not reported
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 DUES
total $2,843,107 · related or exempt $2,843,107
-
2b · Program service revenue: CONFERENCES/MEETINGS
total $195,424 · related or exempt $195,424
-
3 · Investment income
total $207,213 · excluded $207,213
-
6a · Gross rents
real property $201,730
-
6b · Less rental expenses
real property $208,478
-
6c · Rental income or loss
real property -$6,748
-
6d · Net rental income or loss
total -$6,748 · excluded -$6,748
-
7a · Gross sales of assets other than inventory
securities $1,308,682
-
7b · Less cost or other basis and sales expenses
securities $1,296,966
-
7c · Gain or loss
securities $11,716
-
7d · Net gain or loss
total $11,716 · excluded $11,716
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $123,172
-
5 · Compensation of officers, directors and key employees
total $1,675,928
-
7 · Other salaries and wages
total $383,278
-
8 · Pension plan contributions
total $16,338
-
9 · Other employee benefits
total $100,678
-
10 · Payroll taxes
total $94,222
-
11b · Fees: legal
total $145,352
-
11c · Fees: accounting
total $58,600
-
11f · Fees: investment management
total $14,225
-
11g · Fees: other
total $335,551
-
13 · Office expenses
total $28,932
-
14 · Information technology
total $30,496
-
16 · Occupancy
total $128,062
-
17 · Travel
total $54,339
-
19 · Conferences, conventions and meetings
total $217,799
-
22 · Depreciation, depletion and amortization
total $30,518
-
24a · Other expenses: BOOKS AND PUBLICATIONS
total $43,372
-
24b · Other expenses: MISCELLANEOUS
total $41,726
-
24c · Other expenses: MEMBERSHIP FEES
total $14,668
-
24d · Other expenses: EQUIPMENT RENTAL
total $9,514
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $964,545 · end of year $401,989
-
2 · Savings and temporary cash investments
beginning of year $89,128 · end of year $201,227
-
4 · Accounts receivable
beginning of year $22,195 · end of year $745
-
9 · Prepaid expenses and deferred charges
beginning of year $39,303 · end of year $48,627
-
10a · Land, buildings and equipment: cost or other basis
$167,099
-
10b · Land, buildings and equipment: accumulated depreciation
$144,371
-
10c · Land, buildings and equipment, net
beginning of year $32,001 · end of year $22,728
-
11 · Investments: publicly traded securities
beginning of year $5,492,402 · end of year $5,776,217
-
15 · Other assets
beginning of year $354,872 · end of year $255,335
-
17 · Accounts payable and accrued expenses
beginning of year $312,058 · end of year $384,447
-
19 · Deferred revenue
beginning of year $129,266
-
25 · Other liabilities
beginning of year $373,598 · end of year $218,732
-
27 · Net assets without donor restrictions
beginning of year $6,179,524 · end of year $6,103,689
Mission and programs · 2023
Mission
TO CREATE AND MAINTAIN A LEGISLATIVE, REGULATORY, AND JUDICIAL ENVIRONMENT IN THE STATE OF NEW YORK THAT ENCOURAGES THE MEMBERS OF LIFE INSURANCE COUNCIL OF NEW YORK (LICONY) TO CONDUCT AND GROW THEIR LIFE INSURANCE BUSINESS.
Activities or mission (Part I)
SEE SCHEDULE O
-
SEE SCHEDULE O.
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Michael A ZarconeMICHAEL A ZARCONE
CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Kermitt BrooksKERMITT BROOKS
CHAIR-ELECT
- Total calculated
- $0
- Hours/week
- 1
-
Gretchen CepekGRETCHEN CEPEK
SECRETARY-TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Bret HesterBRET HESTER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jason A D'AngeloJASON A D'ANGELO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jeannette HunteJEANNETTE HUNTE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Michael McDonnellMICHAEL MCDONNELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Allie LinALLIE LIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jose Ramon GonzalezJOSE RAMON GONZALEZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Shawn T LoftusSHAWN T LOFTUS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
David MelmanDAVID MELMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Andrew S WilliamsANDREW S WILLIAMS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Timothy A WalshTIMOTHY A WALSH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Christine NixonCHRISTINE NIXON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Richard LoconteRICHARD LOCONTE
PRESIDENT & CEO
- Total calculated
- $677,471
- From this org
- $606,900
- From related orgs
- $0
- Other
- $70,571
- Hours/week
- 40 + 1 related
Schedule J breakdown matched by us
- Base
- $606,900
- Bonus
- $0
- Other
- $0
- Deferred
- $15,250
- Nontaxable benefits
- $55,321
- Filer's total
- $677,471
-
Timothy A AtkinsTIMOTHY A ATKINS
DIRECTOR & COUNSEL
- Total calculated
- $365,270
- From this org
- $299,700
- From related orgs
- $0
- Other
- $65,570
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $299,700
- Bonus
- $0
- Other
- $0
- Deferred
- $13,770
- Nontaxable benefits
- $51,800
- Filer's total
- $365,270
-
Linda M NusbaumLINDA M NUSBAUM
DIRECTOR, OPERATIONS
- Total calculated
- $175,188
- From this org
- $161,603
- From related orgs
- $0
- Other
- $13,585
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $161,603
- Bonus
- $0
- Other
- $0
- Deferred
- $7,359
- Nontaxable benefits
- $6,226
- Filer's total
- $175,188
-
Diane StutoDIANE STUTO
MANAGING DIR., LEGIS. & RE
- Total calculated
- $457,998
- From this org
- $428,871
- From related orgs
- $0
- Other
- $29,127
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $428,871
- Bonus
- $0
- Other
- $0
- Deferred
- $15,250
- Nontaxable benefits
- $13,877
- Filer's total
- $457,998
-
Edward KollerEDWARD KOLLER
MANAGER, PUBLIC & LEGISLAT
- Total calculated
- $151,925
- From this org
- $103,597
- From related orgs
- $0
- Other
- $48,328
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $103,597
- Bonus
- $0
- Other
- $0
- Deferred
- $4,847
- Nontaxable benefits
- $43,481
- Filer's total
- $151,925
-
Patricia TarioPATRICIA TARIO
EXECUTIVE ASSISTANT
- Total calculated
- $112,760
- From this org
- $100,878
- From related orgs
- $0
- Other
- $11,882
- Hours/week
- 40
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
- 3 · Independent compensation consultant
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
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
-
NYS DEMOCRATIC ASSEMBLY CAMPAIGN COMMITTEE
$50,000
HOUSEKEEPING ACCOUNT
-
NYS DEMOCRATIC SENATE CAMPAIGN COMMITTEE
$47,500
HOUSEKEEPING ACCOUNT
-
LIFE INSURANCE COUNCIL OF NEW YORK PAC
$14,949
DONATION
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.
-
LIFE INSURANCE COUNCIL OF NEW YORK PAC
527 · POLITICAL ATIVITY · NY · controlled entity
Directly controlled by LIFE INSURANCE COUNCIL OF NEW YORK INC
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 13 May 2024
- IRS schema version
- 2023v5.0
- Source object
- 202401369349302480
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