INSURANCE FRAUD BUREAU OF MASSACHUSETTS

EIN: 043107028

Boston, MA

Total Revenue
$10,988,584
Total Expenses
$10,632,148
Total Assets
$8,996,792
Net Assets
$4,271,328
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1991
Legal Domicile
MA
Principal Officer
Anthony M DiPaolo
Phone
6174390439
Tax Period
2023-01-01 to 2023-12-31

INSURANCE FRAUD BUREAU OF MASSACHUSETTS, founded in 1991, is a mid-sized nonprofit that reported $11.0M in total revenue in fiscal year 2023. Expenses of $10.6M left a modest 3% surplus.

Mission

The organization is an entity authorized by Massachusetts General Laws to prevent, detect and investigate insurance fraud. The Bureau works with law enforcement and public prosecutors on matters involving potential crime violation of insurance fraud laws.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $10,623,736
Investment Income $364,848
Other Revenue $0
TOTAL REVENUE $10,988,584

Expense Breakdown

Grants Paid $540,358
Salaries & Benefits $6,942,881
Fundraising Expenses $0
Program Expenses $0
Other Expenses $3,148,909
TOTAL EXPENSES $10,632,148

Year-over-Year Comparison

2023 2022 Change
Revenue $10,988,584 $10,994,650 0.0%
Expenses $10,632,148 $10,396,012 +0.0%
Net Income $356,436 $598,638 -0.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
15
Independent Members
15
Employees
48
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$993,462
Total Directors
15
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Anthony DiPaolo Executive Director 36.25
Officer
$292,528 $109,956 $402,484
Laura Kessler V.P., General Counsel 36.25
Officer
$263,716 $72,732 $336,448
M Katherine Mulligan V.P., Chief of Investigations 36.25
Officer
$208,337 $46,193 $254,530
Cynthia Ventresca Deputy Chief of Investigations 36.25
Highest
$144,875 $44,464 $189,339
Patrick Moore Investigative Manager 36.25
Highest
$132,730 $38,681 $171,411
Stephen Adams Deputy General Counsel 36.25
Highest
$135,357 $13,547 $148,904
Marilyn Barrett Investigative Manager 36.25
Highest
$118,192 $29,240 $147,432
Jeffrey Ambrose Investigative Manager 36.25
Highest
$118,537 $22,833 $141,370
N/A Board of Governors Member 0.00
Director
$0 $0 $0
N/A Board of Governors Member 0.00
Director
$0 $0 $0
N/A Board of Governors Member 0.00
Director
$0 $0 $0
N/A Board of Governors Member 0.00
Director
$0 $0 $0
N/A Board of Governors Member 0.00
Director
$0 $0 $0
N/A Board of Governors Member 0.00
Director
$0 $0 $0
N/A Board of Governors Member 0.00
Director
$0 $0 $0
N/A Board of Governors Member 0.00
Director
$0 $0 $0
N/A Board of Governors Member 0.00
Director
$0 $0 $0
N/A Board of Governors Member 0.00
Director
$0 $0 $0
N/A Board of Governors Member 0.00
Director
$0 $0 $0
N/A Board of Governors Member 0.00
Director
$0 $0 $0
N/A Board of Governors Member 0.00
Director
$0 $0 $0
N/A Board of Governors Member 0.00
Director
$0 $0 $0
N/A Board of Governors Member 0.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 No data No data No data No data
2023 $10,988,584 $10,632,148 $8,996,792 $356,436
2022 $10,994,650 $10,396,012 $8,481,147 $598,638
2021 $11,153,060 $10,702,879 $5,432,137 $450,181
2020 $10,152,123 $9,549,485 $4,543,367 $602,638
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