MASSACHUSETTS ASSOCIATION OF INSURANCE AGENTS INC (EIN 043172159) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1992

Legal Domicile

Principal Officer

NICHOLAS A FYNTRILAKIS

Phone

5086342900

Tax Period

2024-01-01 to 2024-12-31

MASSACHUSETTS ASSOCIATION OF INSURANCE AGENTS INC, founded in 1992, is a community nonprofit that reported $5.6M in total revenue in fiscal year 2024. The organization ran a surplus of $910K, a strong 16% operating margin.

Mission

MAIA IS DEDICATED TO STRENGTHENING AND ELEVATING THE INDEPENDENT INSURANCE AGENCY SYSTEM THROUGH UNWAVERING ADVOCACY AND PROMOTION, QUALITY EDUCATION, KEY INSIGHTS AND ADVICE, MARKET ACCESS, AND ESSENTIAL PRODUCTS. THE MASSACHUSETTS ASSOCIATION OF INSURANCE AGENTS IS THE LEADING TRADE ASSOCIATION FOR NEARLY 1,000 MASSACHUSETTS INDEPENDENT INSURANCE AGENCIES AND THEIR ESTIMATED 9,000+ EMPLOYEES.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $97,400

Program Service Revenue $3,461,160

Investment Income $532,933

Other Revenue $1,481,430

TOTAL REVENUE $5,572,923

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,027,375

Fundraising Expenses $0

Other Expenses $2,635,594

TOTAL EXPENSES $4,662,969

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,572,923	$5,716,141	0.0%
Expenses	$4,662,969	$4,614,820	+0.0%
Net Income	$909,954	$1,101,321	-0.2%

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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$505,326

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PATRICK DEMPSEY	CHAIRMAN	2.00	Officer Director	$0	$0	$0
CHRISTOPHER FITTS	CHAIR ELECT	2.00	Officer Director	$0	$0	$0
CHRISTOPHER R RUSSO JR	VICE CHAIR (UNTIL 12/2024)	2.00	Officer Director	$0	$0	$0
RICHARD GREEN	SECRETARY-TREASURER	2.00	Officer Director	$0	$0	$0
GLEN DAVIS	NATIONAL DIR. IIABA	2.00	Officer Director	$0	$0	$0
LISA HIRBOUR	IMMEDIATE PAST CHAIR	2.00	Officer Director	$0	$0	$0
JUSTIN FLYNN	DIRECTOR	2.00	Director	$0	$0	$0
GREG PORZIELLA	DIRECTOR	2.00	Director	$0	$0	$0
JOE BICKEL	DIRECTOR	2.00	Director	$0	$0	$0
JOHN MALLEY	DIRECTOR	2.00	Director	$0	$0	$0
SARA GIGUERE	DIRECTOR	2.00	Director	$0	$0	$0
KYLE AUSTIN	DIRECTOR	2.00	Director	$0	$0	$0
PAUL OSTRANDER	DIRECTOR	2.00	Director	$0	$0	$0
KIMBERLY TENBROECK	DIRECTOR	2.00	Director	$0	$0	$0
HENRY RISMAN	DIRECTOR	2.00	Director	$0	$0	$0
STEVEN COHEN	DIRECTOR	2.00	Director	$0	$0	$0
SHAWN MCLAUGHLIN	DIRECTOR	2.00	Director	$0	$0	$0
TRICIA SABULLIS	DIRECTOR	2.00	Director	$0	$0	$0
TED HUGHES	DIRECTOR	2.00	Director	$0	$0	$0
TED GIBSON	DIRECTOR	2.00	Director	$0	$0	$0
BILL BURBINE	DIRECTOR (UNTIL 11/2024)	2.00	Director	$0	$0	$0
GREG SUSCO	DIRECTOR (UNTIL 6/2024)	2.00	Director	$0	$0	$0
NICHOLAS FYNTRIKIS	PRESIDENT & CEO	35.00	Officer	$464,997	$40,329	$505,326
HEATHER KRAMER	COO/VICE PRESIDENT	35.00	Highest	$228,133	$14,513	$242,646
LAURA POULIN	DIRECTOR OF TECHNICAL AFFAIRS	35.00	Highest	$119,044	$16,623	$135,667
PATRICIA LOONIE	VP OF FINANCE	18.00	Highest	$0	$24,403	$132,946
ANN TOBIN	VP OF AGENCY SERVICES	1.00	Highest	$0	$10,258	$188,458
LEO FREDETTE	SYSTEMS ADMINISTRATOR	1.00	Highest	$0	$21,196	$127,396

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	$5,572,923	$4,662,969	$17,339,557	$909,954
2023	$5,716,141	$4,614,820	$15,959,732	$1,101,321
2022	$5,045,215	$4,626,508	$14,213,451	$418,707
2021	$4,849,036	$3,854,382	$15,366,665	$994,654
2020	$4,514,058	$3,481,163	$13,538,078	$1,032,895
2019	$5,647,206	$5,138,733	$11,985,489	$508,473
2018	$5,681,993	$5,190,803	$10,640,619	$491,190

MASSACHUSETTS ASSOCIATION OF INSURANCE AGENTS INC