Professional Insurance Agents Of New York State Inc in Glenmont, New York (NY)

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Professional Insurance Agents Of New York State Inc
Employer Identification Number (EIN)150525570
Name of OrganizationProfessional Insurance Agents Of New York State Inc
AddressPO BOX 997, Glenmont, NY 12077-0997
ActivitiesOther services or benefits to members or employees
SubsectionBusiness League
Ruling Date04/1964
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2012
Assets$5,000,000 to $9,999,999
Income$5,000,000 to $9,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$6,948,900
Amount of Income$6,092,333
Form 990 Revenue Amount$2,376,513
National Taxonomy of Exempt Entities (NTEE)Mutual/Membership Benefit Organizations, Other: Professional Societies, Associations


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Amount of income in 2012: $6,092,333
Professional Insurance Agents Of New York State Inc: 

 $6,092,333
Other organizations performing similar types of work: 

 $713,150

Assets in 2012: $6,948,900
This organization: 

 $6,948,900
Other organizations performing similar types of work: 

 $624,738

Expenses in 2002: $1,809,151
Professional Insurance Agents Of New York State Inc: 

 $1,809,151
Other organizations performing similar types of work: 

 $1,809,151

Income to expenses ratio in 2002: 1.1
This organization: 

 1.1
Other organizations performing similar types of work: 

 1.1

Financial snapshot ($)

Revenue for 2002

Assets at end of 2002

Income-Producing Activities for 2002

Revenue, Expenses, and Changes in Net Assets or Fund Balances
200020012002
Total revenue$1,998,126$1,910,895$1,981,389
Contributions, gifts, grants, and similar amounts received$0$0$0
Contributions to donor advised funds
Direct public support$0$0$0
Indirect public support$0$0$0
Government contributions (grants)$0$0$0
Program service revenue including government fees and contracts$980,252$822,117$964,428
Membership dues and assessments$929,228$959,062$949,000
Interest on savings and temporary cash investments$92,677$14,147$16,382
Dividends and interest from securities$0$63,678$39,981
Net rental income or (loss)$0$0$0
Gross rents$0$0$0
Less: rental expenses$0$0$0
Other investment income$0$0$0
Gain or (loss) from sales of assets other than inventory$-13,806$39,008$-307
Gross amount from sales of assets other than inventory$1,070,575$436,094$145,391
Less: cost or other basis and sales expenses$1,084,381$397,086$145,698
Net income or (loss) from special events and activities$0$0$0
Gross revenue$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0
Less: cost of goods sold$0$0$0
Other revenue$9,775$12,883$11,905
Total expenses$1,856,929$1,718,832$1,809,151
Program services$0$0$0
Management and general$0$0$0
Fundraising$0$0$0
Payments to affiliates$177,361$0$190,017
Net assets or fund balances at end of year$3,021,098$3,168,108$2,890,246
Excess or (deficit) for the year$141,197$192,063$172,238
Net assets or fund balances at beginning of year$2,672,988$3,021,098$3,168,108
Other changes in net assets or fund balances$206,913$-45,053$-450,100
Statement of Functional Expenses (for 2002)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$1,619,134$0$0$0
Grants paid from donor advised funds
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$58,807$0$0$0
Compensation of former officers, directors, key employees, etc.
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Salaries and wages of employees not included above$0$0$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$11,723$0$0$0
Legal fees$0$0$0$0
Supplies$25,729$0$0$0
Telephone$21,818$0$0$0
Postage and shipping$4,995$0$0$0
Occupancy$44,578$0$0$0
Equipment rental and maintenance$35,057$0$0$0
Printing and publications$25,143$0$0$0
Travel$6,895$0$0$0
Conferences, conventions, and meetings$230,645$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$1,153,744$0$0$0
Balance Sheets
200020012002
Total assets$3,576,287$3,776,659$3,531,178
Cash - non-interest-bearing$0$0$0
Savings and temporary cash investments$321,278$393,475$416,048
Accounts receivable less allowance for doubtful accounts$42,137$47,833$25,290
Pledges receivable less allowance for doubtful accounts$0$0$0
Grants receivable$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Other notes and loans receivable less allowance for doubtful accounts$0$0$0
Inventories for sale or use$0$0$0
Prepaid expenses and deferred charges$104,901$102,520$115,211
Investments - publicly-traded securities
Investments - other securities$1,456,194$1,532,141$1,516,429
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0
Investments - other$1,651,777$1,700,690$1,458,200
Land, buildings, and equipment less accumulated depreciation$0$0$0
Other assets, including program-related investments$0$0$0
Total liabilities$555,189$608,551$640,932
Accounts payable and accrued expenses$32,957$42,284$17,175
Grants payable$0$0$0
Deferred revenue$515,564$557,384$613,593
Loans from officers, directors, trustees, and key employees$0$0$0
Tax-exempt bond liabilities$0$0$0
Mortgages and other notes payable$0$0$0
Other liabilities$6,668$8,883$10,164
Total liabilities and net assets/fund balances$3,576,287$3,776,659$3,531,178
Total net assets or fund balances$3,021,098$3,168,108$2,890,246
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
200020012002
Total revenue$1,998,126$1,910,895$1,981,389
Total revenue, gains, and other support per audited financial statements$1,746,817$1,607,951$1,562,386
Other expenses$-251,309$-302,944$-419,003
Net unrealized gains on investments$-49,443$-93,966$-207,610
Donated services and use of facilities$0$0$0
Recoveries of prior year grants$0$0$0
Other$-201,866$-208,978$-211,393
Other revenue$0$0$0
Investment expenses$0$0$0
Other$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
200020012002
Total expenses$1,856,929$1,718,832$1,809,151
Total expenses and losses per audited financial statements$1,655,063$1,509,854$1,597,758
Other revenue$0$0$0
Donated services and use of facilities$0$0$0
Prior year adjustments$0$0$0
Losses$0$0$0
Other$0$0$0
Other expenses$201,866$208,978$211,393
Investment expenses$0$0$0
Other$201,866$208,978$211,393
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?
Does the organization have a written conflict of interest policy?
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?No
Did the organization make only in-house lobbying expenditures of $2,000 or less?No
Dues, assessments, and similar amounts from members$949,000
Section 162(e) lobbying and political expenditures$223,247
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$227,760
Taxable amount of lobbying and political expenditures$-4,513
Does the organization elect to pay the section 6033(e) tax on the amount above?No
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?
Did the organization acquire a direct or indirect interest in any applicable insurance contract?
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2002)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$56,056$1,925,333
Program service revenue
Program service revenue 1000000$000$0$696,356
Program service revenue 2000000$000$0$70,122
Program service revenue 3000000$000$0$30,000
Program service revenue 4000000$000$0$167,950
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$949,000
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$16,382$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$39,981$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$-307$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$11,905
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2002)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
99999999960%$55,625$2,859,264
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2002)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2002)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
Enter the total number of donor advised funds owned at the end of the tax year
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year
Reason for Non-Private Foundation Status
The organization is not a private foundation because it is
Support Schedule
199920002001
Total$0$0$0
Gifts, grants, and contributions received$0$0$0
Membership fees received$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0
Net income from unrelated business activities not included above$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0
Other income$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2002)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$2,371,451
Contributions, Gifts, Grants and Other Similar Amounts$0
Program Service Revenue$2,009,009
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$165,246
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$197,170
Gross amount from sales of assets other than inventory (Securities / Other)$1,986,385 / $0
Less: cost or other basis and sales expenses (Securities / Other)$1,789,215 / $0
Gain or (loss) (Securities / Other)$197,170 / $0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$26
Statement of Functional Expenses (for 2011)
Total functional expenses$2,109,225
Compensation of current officers, directors, trustees, and key employees$0
Other salaries and wages$0
Payroll taxes$0
Professional fundraising services$0
Other$2,109,225
Balance Sheet (for 2011)
Total assets$6,383,404
Total liabilities$646,707
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$646,707
Total net assets or fund balances$5,736,697
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:Not provided
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2Health Insurance Assn Of AmericaWashington, DC 20004DC$14,571,574
3Independent Insurance Agents And Brokers Of America IncAnd Brokers Of America Inc 127 S Pe, Alexandria, VA 22314VA1939-11$14,484,711
4Excess Line Association Of New YorkOne Exc Plza 55 Broadway 29 Fl, New York, NY 10006NY1990-04$7,738,345
5Professional Insurance Agents Of New York State IncPO BOX 997, Glenmont, NY 12077-0997NY1964-04$6,092,333
6Property Insurance Association Of Louisiana433 Metairie Rd Ste 400, Metairie, LA 70005-4343LA1950-08$4,657,331
7Insurance Agents And Brokers Of Pennsylvania Inc5050 Ritter Rd, Mechanicsburg, PA 17055-4879PA1946-11$3,057,766
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9Missouri Association Of Insurance Agents3315 Emerald Ln, Jefferson Cty, MO 65109-6878MO1964-03$1,620,471
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11Independent Insurance Agents And Brokers Of Arizona Inc333 E Flower St, Phoenix, AZ 85012-2611AZ1941-09$713,150
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17National Association Of Christian Financial Consulting Inc1055 Maitland Center Commons Blvd, Maitland, FL 32751-7205FL2000-04$70,784
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Number of organizations performing similar types of work
Arizona2
California1
District of Columbia2
Florida3
Georgia1
Illinois1
Louisiana3
Maryland1
Missouri1
Mississippi1
North Carolina1
New York2
Ohio4
Oklahoma1
Pennsylvania3
Tennessee1
Virginia2
Wisconsin1
Total31

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