National Association of Insurance and Financial Advisors-New York State Inc

Nonprofit profile at a glance

EIN
141743787
IRS 990 coverage
2014–2018
Forms available
Form 990 2018
Location
Albany, NY, USA
Phone
5189151661
Rating
53
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$351,942
Expenses
$452,003
Assets
$228,098
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • PHILIP HELD (PRESIDENT)
  • THOMAS PALMERI (PRESIDENT-ELECT)

People named in this filing

  • GARY CAPPON (SECRETARY/TREASURER)
  • PHILIP HELD (PRESIDENT)
  • JOSHUA LAUER (TRUSTEE)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The association's purpose is to serve its members and the public interest by preserving and promoting the highest standards of professionalism and enhancing the business climate of the insurance and financial services professional.

What it reported doing in 2018

The association conducts an annual meeting of members and sends communications to members for the promotion of the purpose stated above.

Operating model

Revenue model
Membership-supported. 87% 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

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 15
  • Transparency & Controls: 92
  • Accountability: 88
  • Sustainability: 30
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 18.6%; rating input score 19
  • Program expense ratio: 14.3%; rating input score 14
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -28.4%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 0.5; rating input score 26; 26th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 84; 84th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 71; 71st percentile among comparable filings

Growth

  • Program expense growth: -38.5% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: -4.8% per year; rating input score 0; 16th percentile among comparable filings
  • Asset growth: -29.7% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 18.6% of revenue deployed · 14.3% of spending went to programs
  • Governance: 10 of 10 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $65K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Highest-paid contractors: 1 contractor listed · $366K reported
  • Consistency: 18 of 18 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 4 filing years from 2014 to 2018
  • Contacts: How to reach this organization
  • Related organizations: 2 filed related-organization links
  • 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Financial Efficiency: Mission deployment rate scored 19/100.
  • High — Financial Efficiency: Program expense ratio scored 14/100.
  • High — Sustainability: Operating margin scored 9/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Total-asset coverage ratio scored 26/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.