LIFE INSURANCE COUNCIL OF NEW YORK INC (EIN 132928479) - 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

1977

Legal Domicile

Principal Officer

LAURA EVANGELISTA

Phone

5184368417

Tax Period

2024-01-01 to 2024-12-31

LIFE INSURANCE COUNCIL OF NEW YORK INC, founded in 1977, is a community nonprofit that reported $4.4M in total revenue in fiscal year 2024. Revenue surged 34% from the prior year, signaling strong growth momentum. Expenses of $4.1M left a modest 7% surplus.

Mission

TO CREATE AND MAINTAIN A LEGISLATIVE, REGULATORY, AND JUDICIAL ENVIRONMENT IN THE STATE OF NEW YORK THAT ENCOURAGES THE MEMBERS OF LIFE INSURANCE COUNCIL OF NEW YORK (LICONY) TO CONDUCT AND GROW THEIR LIFE INSURANCE BUSINESS.

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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 $0

Program Service Revenue $4,012,150

Investment Income $313,377

Other Revenue $29,250

TOTAL REVENUE $4,354,777

Expense Breakdown

Grants Paid $178,729

Salaries & Benefits $2,578,120

Fundraising Expenses $0

Other Expenses $1,294,331

TOTAL EXPENSES $4,051,180

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,354,777	$3,250,712	+0.3%
Expenses	$4,051,180	$3,546,770	+0.1%
Net Income	$303,597	$-296,058	-2.0%

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

$150,222

Total Directors

Key Employees

$1,081,532

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL A ZARCONE	PAST-CHAIR	1.00	Officer Director	$0	$0	$0
KERMITT BROOKS	CHAIR	1.00	Officer Director	$0	$0	$0
GRETCHEN CEPEK	CHAIR-ELECT	1.00	Officer Director	$0	$0	$0
BRET HESTER	DIRECTOR	1.00	Director	$0	$0	$0
JASON A D'ANGELO	SECRETARY-TREASURER	1.00	Director	$0	$0	$0
JEANNETTE HUNTE	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL MCDONNELL	DIRECTOR	1.00	Director	$0	$0	$0
ALLIE LIN	DIRECTOR	1.00	Director	$0	$0	$0
JOSE RAMON GONZALEZ	DIRECTOR	1.00	Director	$0	$0	$0
SHAWN T LOFTUS	DIRECTOR	1.00	Director	$0	$0	$0
DAVID MELMAN	DIRECTOR	1.00	Director	$0	$0	$0
ANDREW S WILLIAMS	DIRECTOR	1.00	Director	$0	$0	$0
TIMOTHY A WALSH	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTINE NIXON	DIRECTOR	1.00	Director	$0	$0	$0
KIRK GRAVELY	DIRECTOR	1.00	Director	$0	$0	$0
ANDREA LYNN WHITE	DIRECTOR	1.00	Director	$0	$0	$0
LAURA EVANGELISTA	PRESIDENT & CEO	40.00	Officer	$140,000	$10,222	$150,222
TIMOTHY A ATKINS	MANAGING DIRECTOR, LEGISLATIVE AFFAIRS	40.00	Key Emp	$311,202	$64,607	$375,809
LINDA M NUSBAUM	DIRECTOR, OPERATIONS	40.00	Key Emp	$179,718	$14,574	$194,292
DIANE STUTO	MANAGING DIRECTOR, REGULATORY AFFAIRS	40.00	Key Emp	$487,831	$23,600	$511,431
PATRICIA TARIO	EXECUTIVE ASSISTANT	40.00	Highest	$105,922	$11,798	$117,720
RICHARD LOCONTE	FORMER PRESIDENT & CEO	40.00		$637,245	$73,788	$711,033

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
2024	$4,354,777	$4,051,180	$7,048,934	$303,597
2023	$3,250,712	$3,546,770	$6,706,868	$-296,058
2022	$3,510,054	$3,384,724	$6,994,446	$125,330
2021	$3,374,052	$3,285,120	$6,853,352	$88,932
2020	$4,084,295	$3,459,719	$6,999,343	$624,576
2019	$4,460,516	$2,990,247	$6,454,839	$1,470,269
2018	$4,803,531	$2,931,043	$5,990,833	$1,872,488

LIFE INSURANCE COUNCIL OF NEW YORK INC