Form 990 for tax year 2022

Filed by NEW YORK INSURANCE ASSOCIATION INC.

Totals

Total revenue: $1,845,971
Total expenses: $1,705,861
Contributions and grants received: $0
Grants paid: $0
Program service revenue: $1,745,324
Investment income: $34,940
Other revenue: $65,707
Total assets, end of year: $2,141,817
Total liabilities, end of year: $207,173
Net assets or fund balances, end of year: $1,934,644
Program services expenses (Part IX): not reported
Management and general expenses: not reported
Fundraising expenses: not reported
Program service expenses (Part III): $1,705,861

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 $1,356,332 · related or exempt $1,356,332
2b · Program service revenue: CONFERENCE & MEETINGS

total $285,985 · related or exempt $285,985
2c · Program service revenue: GROUP PUBLICATION

total $64,601 · unrelated business $64,601
2d · Program service revenue: NEWSLETTER

total $38,406 · unrelated business $38,406
3 · Investment income

total $22,519 · excluded $22,519
7a · Gross sales of assets other than inventory

securities $258,693
7b · Less cost or other basis and sales expenses

securities $246,272
7c · Gain or loss

securities $12,421
7d · Net gain or loss

total $12,421 · excluded $12,421
11a · Other revenue: OTHER INCOME

total $65,707 · related or exempt $65,707
11e · Other revenue, total

$65,707

Functional expenses

Part IX, the statement of functional expenses.

5 · Compensation of officers, directors and key employees

total $627,900
7 · Other salaries and wages

total $353,670
8 · Pension plan contributions

total $41,640
9 · Other employee benefits

total $57,284
10 · Payroll taxes

total $53,297
11b · Fees: legal

total $70,000
11c · Fees: accounting

total $20,619
13 · Office expenses

total $12,547
16 · Occupancy

total $48,054
17 · Travel

total $31,271
19 · Conferences, conventions and meetings

total $158,044
22 · Depreciation, depletion and amortization

total $6,043
23 · Insurance

total $3,001
24a · Other expenses: TECHNOLOGY

total $76,083
24b · Other expenses: GROUP PUBLICATION

total $62,116
24c · Other expenses: FEES, DUES, CONTRIBUTIO

total $27,418
24d · Other expenses: MISCELLANEOUS

total $24,935
24e · All other expenses

total $31,939

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $205,758 · end of year $289,884
2 · Savings and temporary cash investments

beginning of year $323,111 · end of year $298,353
4 · Accounts receivable

beginning of year $199 · end of year $16,900
9 · Prepaid expenses and deferred charges

beginning of year $59,585 · end of year $50,742
10a · Land, buildings and equipment: cost or other basis

$277,239
10b · Land, buildings and equipment: accumulated depreciation

$267,924
10c · Land, buildings and equipment, net

beginning of year $15,358 · end of year $9,315
11 · Investments: publicly traded securities

beginning of year $767,547 · end of year $659,435
12 · Investments: other securities

beginning of year $556,234 · end of year $540,183
15 · Other assets

beginning of year $111,003 · end of year $277,005
17 · Accounts payable and accrued expenses

beginning of year $26,037 · end of year $24,743
19 · Deferred revenue

beginning of year $23,925 · end of year $25,650
25 · Other liabilities

beginning of year $10,438 · end of year $156,780
27 · Net assets without donor restrictions

beginning of year $1,978,395 · end of year $1,934,644

Mission and programs · 2022

Mission

TO PROMOTE THE DEVELOPMENT, PRESERVATION, OPERATION, MAINTENANCE AND GENERAL WELFARE OF THE INSURANCE INDUSTRY IN THE STATE OF NEW YORK FOR THE BENEFIT OF THE INDUSTRY AND THE INSURANCE-BUYING PUBLIC.

INSURANCE ASSOCIATION - PRESENTS INFORMATION TO THE PUBLIC WITH RESPECT TO INSURANCE PROBLEMS, PROMOTES HARMONIOUS RELATIONSHIPS AMONG THE MEMBER COMPANIES AND BETWEEN THE INSURANCE-BUYING PUBLIC. ESTABLISHES AN AGENCY THROUGH WHICH THE FACTS AND PRINCIPLES OF INSURANCE CAN BE PRESENTED AND EXPLAINED TO THE INSURANCE-BUYING PUBLIC, THE SUPERVISORY AUTHORITIES AND THE LAW-MAKING BODIES.

Expenses $1,705,861 · Revenue $1,708,024

As filed on the 2022 return.

Listed in Part VII

Martin BogueMARTIN BOGUE

MEMBER

Total calculated

$0

Hours/week

1
Jennifer CalovoJENNIFER CALOVO

BOARD MEMBER (TERM ENDED 05/2022)

Total calculated

$0

Hours/week

1
Scott ShatrawSCOTT SHATRAW

BOARD MEMBER

Total calculated

$0

Hours/week

1
Matthew A BenedictMATTHEW A BENEDICT

BOARD MEMBER

Total calculated

$0

Hours/week

1
Alison KellyALISON KELLY

BOARD MEMBER (TERM ENDED 07/2022)

Total calculated

$0

Hours/week

1
Mark PrechtlMARK PRECHTL

IMMEDIATE PAST CHAIR

Total calculated

$0

Hours/week

1
John CerroneJOHN CERRONE

BOARD MEMBER

Total calculated

$0

Hours/week

1
Stephen A HarrisSTEPHEN A HARRIS

BOARD MEMBER

Total calculated

$0

Hours/week

1
Jaynine WarnerJAYNINE WARNER

BOARD MEMBER (TERM ENDED 06/2022)

Total calculated

$0

Hours/week

1
Marc D CrawMARC D CRAW

BOARD MEMBER

Total calculated

$0

Hours/week

1
Kristen MartinKRISTEN MARTIN

BOARD MEMBER

Total calculated

$0

Hours/week

1
Mark DrombrowskiMARK DROMBROWSKI

BOARD MEMBER

Total calculated

$0

Hours/week

1
Stacey OrlandoSTACEY ORLANDO

SECRETARY

Total calculated

$0

Hours/week

1
Siobhan DaveySIOBHAN DAVEY

SECOND VICE CHAIR

Total calculated

$0

Hours/week

1
Charles Makey IIICHARLES MAKEY III

CHAIR

Total calculated

$0

Hours/week

2
Edward N HarperEDWARD N HARPER

FIRST VICE CHAIR

Total calculated

$0

Hours/week

1
Ellen MelchionniELLEN MELCHIONNI

PRESIDENT

Total calculated

$409,069

From this org

$360,435

From related orgs

$0

Other

$48,634

Hours/week

40

Schedule J breakdown matched by us

Base

$360,435

Bonus

$0

Other

$0

Deferred

$39,650

Nontaxable benefits

$8,984

Filer's total

$409,069
Norman J Orlowski JrNORMAN J ORLOWSKI JR

TREASURER

Total calculated

$0

Hours/week

2
Cassandra AndersonCASSANDRA ANDERSON

VICE PRESIDENT

Total calculated

$218,831

From this org

$172,107

From related orgs

$0

Other

$46,724

Hours/week

40

Schedule J breakdown matched by us

Base

$172,107

Bonus

$0

Other

$0

Deferred

$24,050

Nontaxable benefits

$22,674

Filer's total

$218,831

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 · Compensation committee
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

No itemized grants to organizations on this return.

Provenance

Return type: form_990
Tax year: 2022
Filed: 19 May 2023
IRS schema version: 2022v5.0
Source object: 202311459349300621

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