Insurance Society Of New York Inc in New York, New York (NY)

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Insurance Society Of New York Inc
Employer Identification Number (EIN)135608400
Name of OrganizationInsurance Society Of New York Inc
AddressNew York, NY 10007
Tax Period2001
Asset Amount$18,875,495
Amount of Income$582,661
Form 990 Revenue Amount$582,661
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Undergraduate College (4-year)


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Amount of income in 2001: $582,661
Insurance Society Of New York Inc: 

 $582,661
Other organizations performing similar types of work: 

 $66,253,053

Assets in 2001: $18,875,495
This organization: 

 $18,875,495
Other organizations performing similar types of work: 

 $118,174,264

Expenses in 2001: $1,167,006
This organization: 

 $1,167,006
Other organizations performing similar types of work: 

 $52,716,293

Income to expenses ratio in 2001: 0.5
Insurance Society Of New York Inc: 

 0.5
Other organizations performing similar types of work: 

 1.2

Expenses allocated to program services in 2001: 58.0%
This organization: 

 58.0%
Other organizations performing similar types of work: 

 83.2%

Number of employees in 2001: 68
Insurance Society Of New York Inc: 

 68
Other organizations performing similar types of work: 

 1,113

Employees paid over $50,000 in 2001: 0.0%
Insurance Society Of New York Inc: 

 0.0%
Other organizations performing similar types of work: 

 15.6%

Grants share in income in 2001: 50.9%
This organization: 

 50.9%
Other organizations performing similar types of work: 

 4.4%

Financial snapshot ($)

Revenue for 2001

Assets at end of 2001

Expenses for 2001

Functional Expenses for 2001 ($)

Income-Producing Activities for 2001

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001
Total revenue$11,112,912$582,661
Contributions, gifts, grants, and similar amounts received$3,522,687$296,301
Contributions to donor advised funds
Direct public support$3,253,026$236,840
Indirect public support$0$0
Government contributions (grants)$269,661$59,461
Program service revenue including government fees and contracts$6,523,630$130,524
Membership dues and assessments$146,050$1,430
Interest on savings and temporary cash investments$251,928$18,004
Dividends and interest from securities$207,130$12,324
Net rental income or (loss)$383,854$99,158
Gross rents$761,881$136,737
Less: rental expenses$378,027$37,579
Other investment income$0$0
Gain or (loss) from sales of assets other than inventory$401,682$0
Gross amount from sales of assets other than inventory$883,167$0
Less: cost or other basis and sales expenses$481,485$0
Net income or (loss) from special events and activities$-360,903$24,893
Gross revenue$217,025$62,540
Less: direct expenses other than fundraising expenses$577,928$37,647
Gross profit or (loss) from sales of inventory$0$0
Gross sales of inventory, less returns and allowances$0$0
Less: cost of goods sold$0$0
Other revenue$36,854$27
Total expenses$14,199,923$1,167,006
Program services$9,218,262$677,301
Management and general$3,899,937$419,690
Fundraising$1,081,724$70,015
Payments to affiliates$0$0
Net assets or fund balances at end of year$20,196,783$18,875,495
Excess or (deficit) for the year$-3,087,011$-584,345
Net assets or fund balances at beginning of year$23,441,310$20,196,783
Other changes in net assets or fund balances$-157,516$-736,943
Statement of Functional Expenses (for 2001)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$1,167,006$677,301$419,690$70,015
Grants paid from donor advised funds
Other grants and allocations$11,947
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$135,544$26,884$108,660$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$311,659$242,698$52,541$16,420
Pension plan contributions not included above$40,946$26,697$12,708$1,541
Employee benefits not included above$23,304$17,214$4,267$1,823
Payroll taxes$21,795$14,838$5,837$1,120
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$0$0$0$0
Supplies$8,048$1,472$3,162$3,414
Telephone$17,773$1,890$15,883$0
Postage and shipping$3,698$1,343$2,270$85
Occupancy$219,903$138,904$58,299$22,700
Equipment rental and maintenance$17,740$15,245$2,345$150
Printing and publications$44,641$43,376$0$1,265
Travel$20,075$9,245$6,900$3,930
Conferences, conventions, and meetings$355$35$0$320
Interest$12,000$0$12,000$0
Depreciation, depletion, etc.$69,797$48,857$13,960$6,980
Other expenses not covered above$207,781$76,656$120,858$10,267
Balance Sheets
20002001
Total assets$31,468,539$31,306,004
Cash - non-interest-bearing$267,055$38,044
Savings and temporary cash investments$4,635,599$4,660,921
Accounts receivable less allowance for doubtful accounts$153,262$250,122
Pledges receivable less allowance for doubtful accounts$634,338$434,338
Grants receivable$0$0
Receivables from current and former officers, directors, trustees, and key employees$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$322,421$322,951
Inventories for sale or use$0$0
Prepaid expenses and deferred charges$102,546$0
Investments - publicly-traded securities
Investments - other securities$5,006,619$5,322,726
Investments - land, buildings, and equipment less accumulated depreciation$0$0
Investments - other$0$0
Land, buildings, and equipment less accumulated depreciation$20,346,699$20,276,902
Other assets, including program-related investments$0$0
Total liabilities$11,271,756$12,430,509
Accounts payable and accrued expenses$460,816$840,643
Grants payable$0$0
Deferred revenue$143,707$81,155
Loans from officers, directors, trustees, and key employees$0$0
Tax-exempt bond liabilities$0$0
Mortgages and other notes payable$10,564,764$11,397,353
Other liabilities$102,469$111,358
Total liabilities and net assets/fund balances$31,468,539$31,306,004
Total net assets or fund balances$20,196,783$18,875,495
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001
Total revenue$11,112,912$582,661
Total revenue, gains, and other support per audited financial statements$10,139,296$556,298
Other expenses$1,113,471$812,169
Net unrealized gains on investments$157,516$736,943
Donated services and use of facilities$0$0
Recoveries of prior year grants$0$0
Other$955,955$75,226
Other revenue$2,087,087$838,532
Investment expenses$0$0
Other$2,087,087$838,532
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001
Total expenses$14,199,923$1,167,006
Total expenses and losses per audited financial statements$12,531,868$1,150,340
Other revenue$955,955$75,226
Donated services and use of facilities$0$0
Prior year adjustments$0$0
Losses$0$0
Other$955,955$75,226
Other expenses$2,624,010$91,892
Investment expenses$0$0
Other$2,624,010$91,892
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?Yes
Was there a liquidation, dissolution, termination, or substantial contraction during the year?Yes
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?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
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?
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?No
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, 200668
Analysis of Income-Producing Activities (for 2001)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$22,620$166,168$97,572
Program service revenue
Program service revenue 1000000$000$0$60,737
Program service revenue 2000000$000$0$34,397
Program service revenue 3Caterers$22,620Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))$11,622$0
Program service revenue 4000000$0Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))$140$0
Program service revenue 5000000$000$0$1,008
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$1,430
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)$18,004$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)$12,324$0
Net rental income or (loss) from real estate
debt-financed property000000$0Income exempt from debt-financed (section 514) provisions because at least 85% of the use of the property is for the organization's exempt purposes (Note: This code is only for income from the 15% or less non-exempt purpose use.) (section 514(b)(1)(A))$99,158$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$000$0$0
Net income or (loss) from special events000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$24,893$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$0Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))$27$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2001)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2001)
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 2001)
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?
The total number of donor advised funds owned at the end of the tax year
The aggregate value of assets held in all donor advised funds owned at the end of the tax year
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
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 isSchool
Support Schedule
19992000
Total$0$0
Gifts, grants, and contributions received$0$0
Membership fees received$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
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
Net income from unrelated business activities not included above$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$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
Other income$0$0
Lobbying Expenditures by Electing Public Charities (for 2001)
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
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Vassar College124 Raymond Ave, Poughkeepsie, NY 12604-0001NY1938-04$609,836,912
2Trustees Of Hamilton College198 College Hill Rd, Clinton, NY 13323-1218NY1942-02$446,773,949
3Trustees Of Union College, Town Of Schenectady New York State807 Union St, Schenectady, NY 12308-3256NY1937-09$434,542,098
4Ithaca College, Mead Loop Mead LoopPark 249, Ithaca, NY 14850NY1938-05$387,758,967
5Touro College27 W 23rd St, New York, NY 10010-4202NY1970-08$343,071,308
6Mercy College555 Broadway, Dobbs Ferry, NY 10522-1186NY1971-04$295,015,279
7Hobart And William Smith Colleges337 Pulteney St, Geneva, NY 14456-3301NY1946-07$278,866,059
8Barnard College3009 Broadway, New York, NY 10027-6909NY1950-05$233,166,332
9Skidmore College815 N Broadway, Saratoga Spgs, NY 12866-1632NY1939-01$213,756,654
10St Josephs College245 Clinton Ave, Brooklyn, NY 11205-3602NY1946-03$154,396,690
11Siena CollegeRoute 9, Loudonville, NY 12211NY1948-05$153,780,534
12Le Moyne College1419 Salt Springs Rd, Syracuse, NY 13214-1302NY1947-11$119,415,511
13Molloy College1000 Hempstead Ave, Rockville Centre, NY 11570-1135NY1946-03$115,554,194
14Hartwick College1 Hartwick Dr, Oneonta, NY 13820-4000NY1937-11$109,144,435
15Utica College1600 Burrstone Rd, Utica, NY 13502-4857NY1996-03$105,308,384
16Talladega College627 Battle St W, Talladega, AL 35160-2354AL1945-05$18,799,314
17Breakthrough Bible Institute College Inc4305 St Barnabas Rd 402 4305 St Barnabas Rd, Temple Hill, MD 20748MD2007-03$408,000
18Campbell Bible CollegePO BOX 12567, Charleston, SC 29422-2567SC2007-07$8,700
19Martin College11469 Olive Blvd Pmb 116, St Louis, MO 63141-7108MO1999-05$0
20Williams Baptist College60 W Fulbright Ave, Walnut Ridge, AR 72476-9000AR2002-06$0
Number of organizations performing similar types of work
Alabama8
Arkansas8
California16
Connecticut5
District of Columbia2
Florida11
Georgia13
Iowa15
Idaho2
Illinois21
Indiana16
Kansas8
Kentucky10
Louisiana2
Massachusetts28
Maryland7
Maine6
Michigan14
Minnesota9
Missouri11
Mississippi5
Montana2
North Carolina18
North Dakota2
Nebraska6
New Hampshire7
New Jersey8
New Mexico4
Nevada1
New York33
Ohio26
Oklahoma3
Oregon3
Pennsylvania36
Rhode Island1
South Carolina10
South Dakota4
Tennessee12
Texas9
Virginia12
Vermont5
Washington2
Wisconsin11
West Virginia6
International2
Total440

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