LIFE INSURANCE COUNCIL OF NEW YORK… - Form 990 Financial Data

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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

2025-01-01 to 2025-12-31

LIFE INSURANCE COUNCIL OF NEW YORK INC, founded in 1977, is a community nonprofit that reported $3.6M in total revenue in fiscal year 2025. Revenue decreased 18% compared to the prior year.

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.

Program Service Accomplishments

Program 1

LICONY ACHIEVES ITS OBJECTIVE OF PROMOTING THE COMMON BUSINESS INTERESTS OF MEMBER COMPANIES AND EFFECTUATING POSITIVE CHANGES FOR THE LIFE INSURANCE INDUSTRY THROUGH LEGISLATIVE AND REGULATORY...

LICONY ACHIEVES ITS OBJECTIVE OF PROMOTING THE COMMON BUSINESS INTERESTS OF MEMBER COMPANIES AND EFFECTUATING POSITIVE CHANGES FOR THE LIFE INSURANCE INDUSTRY THROUGH LEGISLATIVE AND REGULATORY ADVOCACY ON BEHALF OF THE INDUSTRY, ORGANIZING MEETINGS, SEMINARS, AND CONFERENCES IN WHICH ALL MEMBERS PARTICIPATE AND BY ISSUING PERIODIC REPORTS TO MEMBERS OF TRENDS AND DEVELOPMENTS AFFECTING THE LIFE INSURANCE INDUSTRY IN NEW YORK STATE.

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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 (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $3,267,750

Investment Income $290,633

Other Revenue $16,125

TOTAL REVENUE $3,574,508

Expense Breakdown

Grants Paid $179,865

Salaries & Benefits $2,207,490

Fundraising Expenses $0

Other Expenses $1,233,871

TOTAL EXPENSES $3,621,226

Year-over-Year Comparison

	2025	2024	Change
Revenue	$3,574,508	$4,354,777	-0.2%
Expenses	$3,621,226	$4,051,180	-0.1%
Net Income	$-46,718	$303,597	-1.2%

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

$702,537

Total Directors

Key Employees

$935,130

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
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	Officer 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
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
KIRK GRAVELY	DIRECTOR	1.00	Director	$0	$0	$0
ANDREA LYNN WHITE	DIRECTOR	1.00	Director	$0	$0	$0
MONICA M CURTIS	DIRECTOR	1.00	Director	$0	$0	$0
POLLY KLANE	DIRECTOR	1.00	Director	$0	$0	$0
SEAN A MONTICELLO	DIRECTOR	1.00	Director	$0	$0	$0
LAURA EVANGELISTA	PRESIDENT & CEO	40.00	Officer	$641,875	$60,662	$702,537
TIMOTHY A ATKINS	MANAGING DIRECTOR, LEGISLA	40.00	Key Emp	$322,052	$63,921	$385,973
LINDA M NUSBAUM	DIRECTOR, OPERATIONS	40.00	Key Emp	$194,950	$23,139	$218,089
MARSHAL BOZZO	MANAGER, PUBLIC & LEGISLATIVE AFFAIRS	40.00	Key Emp	$310,154	$20,914	$331,068
ELIZABETH MAXWELL	MANAGER, EXTERNAL AFFAIRS	40.00	Highest	$104,375	$43,325	$147,700
RICHARD LOCONTE	FORMER PRESIDENT & CEO	40.00		$236,354	$7,852	$244,206

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	$3,574,508	$3,621,226	$7,515,645	$-46,718
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