Insurance Association of Connecticu
Nonprofit profile at a glance
- EIN
- 060728625
- IRS 990 coverage
- 2020–2025
- Forms available
- Form 990 2025
- Location
- Hartford, CT, USA
- Phone
- 8605470610
- Rating
- 60
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $1,064,250
- Expenses
- $1,078,425
- Assets
- $1,390,949
- Liabilities
- $427,718
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
2 people listed
Executive titles in this filing
- ERIC GEORGE (PRESIDENT)
Highest reported compensation
- ERIC GEORGE (PRESIDENT): $284,942 total reported compensation
- BROOKE FOLEY (COUNSEL): $182,269 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Represents insurance companies in the area of governmental and public relations
Operating model
- Revenue model
- Membership-supported. 100% of the money available for current operations came from membership dues.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - The filed numbers largely add up and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 57
- Transparency & Controls: 60
- Accountability: 63
- Sustainability: 30
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 63.7%; rating input score 64
- Program expense ratio: 62.9%; rating input score 63
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
- Governance controls: 1 of 9 controls in place; rating input score 11
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -1.3%; rating input score 26; 26th percentile among comparable filings
- Total-asset coverage ratio: 1.29; rating input score 51; 51st percentile among comparable filings
- Liabilities to assets ratio: 0.31; rating input score 19; 19th percentile among comparable filings
- Officer compensation ratio: 43.3%; rating input score 3; 3rd percentile among comparable filings
Growth
- Program expense growth: 8% per year; rating input score 100; 50th percentile among comparable filings
- Revenue growth: 0.9% per year; rating input score 100; 14th percentile among comparable filings
- Asset growth: 19.2% per year; rating input score 100; 77th percentile among comparable filings
Details
- Where the money goes: 63.7% of revenue deployed · 62.9% of spending went to programs
- Governance: 37 of 37 board members independent · 1 of 9 filing controls reported
- Programs: 2 filed program accomplishments
- Leadership: top reported pay $285K · 2 people listed · 0 of 6 pay-setting controls reported
- Consistency: 26 of 26 current checks pass
- Schedules: 4 filed schedules · includes executive pay
- Filing history: 6 filing years from 2020 to 2025
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Accountability: Governance controls: 7 of 8 not reported.
- High — Sustainability: Operating margin scored 26/100.
- Review — Sustainability: Total-asset coverage ratio scored 51/100.
- High — Sustainability: Officer compensation ratio scored 3/100.
- High — Sustainability: Liabilities to assets ratio scored 19/100.