INDEPENDENT INSURANCE AGENTS OF RHODE ISLAND

EIN: 056010265

WARWICK, RI

Total Revenue
$864,094
Total Expenses
$761,354
Total Assets
$2,901,337
Net Assets
$2,758,711
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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
1948
Legal Domicile
RI
Principal Officer
MARK A MALE
Phone
4017322400
Tax Period
2024-09-01 to 2025-08-31

INDEPENDENT INSURANCE AGENTS OF RHODE ISLAND, founded in 1948, is a small nonprofit that reported $864K in total revenue in fiscal year 2024. Revenue surged 26% from the prior year, signaling strong growth momentum. Expenses of $761K left a modest 12% surplus.

Mission

TO ENHANCE THE COMPETITIVE POSITION AND TO SATISFY THE BUSINESS, PROFESSIONAL,AND EDUCATIONAL NEEDS OF THE INDEPENDENT INSURANCE AGENCY MEMBERS. SIGNIFICANT ACTIVITIES INCLUDE EDUCATIONAL PROGRAMS AND SERVICES TO MEMBERS THAT PROMOTE PROFESSIONAL COMPETENCE AND KEEP MEMBER AGENCIES AND THEIR ASSOCIATES ABREAST OF CONTINUAL CHANGES AND TRENDS WITHIN THE INSURANCE INDUSTRY.

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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 (2024)

Revenue Breakdown

Contributions & Grants $221,109
Program Service Revenue $561,698
Investment Income $81,287
Other Revenue $0
TOTAL REVENUE $864,094

Expense Breakdown

Grants Paid $8,871
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $752,483
TOTAL EXPENSES $761,354

Year-over-Year Comparison

2024 2023 Change
Revenue $864,094 $684,200 +0.3%
Expenses $761,354 $653,454 +0.2%
Net Income $102,740 $30,746 +2.3%
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

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Governance

Voting Members
11
Independent Members
11
Employees
N/A
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
7
$237,132
Total Directors
4
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARK A MALE EXEC VP/TREA N/A
Officer
$0 $24,735 $237,132
CHRISTOPHER CALUORI DIRECTOR N/A
Director
$0 $0 $0
JOHN EDGE DIRECTOR N/A
Director
$0 $0 $0
CHRISTOPHER SLOCUM DIRECTOR N/A
Director
$0 $0 $0
GEORGE TAGER DIRECTOR N/A
Director
$0 $0 $0
SEAN P DALY PRESIDENT EL N/A
Officer
$0 $0 $0
THOMAS J DISANTO PAST PRESIDE N/A
Officer
$0 $0 $0
SEAN DONAGHEY DIRECTOR N/A
Officer
$0 $0 $0
MARGARET LONGOLUCCO VICE PRESIDE N/A
Officer
$0 $0 $0
DOUG MAYHEW NATIONAL DIR N/A
Officer
$0 $0 $0
JOSEPH PAIVA PRESIDENT N/A
Officer
$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 $834,230 $761,354 $2,901,337 $72,876
2025 $864,094 $761,354 $2,901,337 $102,740
2024 $684,200 $653,454 $2,683,070 $30,746
2023 $708,523 $698,971 $2,396,366 $9,552
2022 $759,864 $702,359 $2,326,511 $57,505
2021 $839,106 $572,095 $2,536,640 $267,011
2020 $616,397 $604,221 $2,068,031 $12,176
2019 $847,374 $776,540 $1,975,908 $70,834
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