Hamden Assurance Risk Retention Group Inc

EIN: 208530788 501(c)(3) Mutual Benefit

Burlington, VT

Total Revenue
$990,212
Total Expenses
$911,023
Total Assets
$109,891,808
Net Assets
$50,000
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2007
Legal Domicile
VT
Phone
6036505244
Tax Period
2023-01-01 to 2023-12-31

Hamden Assurance Risk Retention Group Inc, founded in 2007, is a small nonprofit in the Mutual Benefit sector that reported $990K in total revenue in fiscal year 2023. Expenses of $911K left a modest 8% surplus.

Mission

TO BENEFIT, TO PERFORM THE FUNCTIONS OF, AND TO CARRY OUT THE PURPOSES OF THE CHARITABLE CLASS OF BENEFICIARIES, THROUGH THE PROVISION OF SELF-INSURANCE COVERAGE AND OTHER SERVICES THAT RISK RETENTION GROUPS ARE PERMITTED TO PROVIDE UNDER THE APPLICABLE FEDERAL AND STATE LAW; TO ACQUIRE, ESTABLISH, RETAIN AND MAINTAIN A FUND OR FUNDS TO BE HELD, INVESTED AND USED EXCLUSIVELY FOR THE FOREGOING PURPOSES.

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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 $993,900
Investment Income $-3,688
Other Revenue $0
TOTAL REVENUE $990,212

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $823,810
Other Expenses $911,023
TOTAL EXPENSES $911,023

Year-over-Year Comparison

2023 2022 Change
Revenue $990,212 $963,318 +0.0%
Expenses $911,023 $950,249 0.0%
Net Income $79,189 $13,069 +5.1%
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

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Liquidity & Cash Position

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Governance

Voting Members
8
Independent Members
2
Employees
N/A
Volunteers
2

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
$3,319,555
Total Directors
8
$3,319,555
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A Board Vice President 1.0
Officer Director
$0 $22,576 $618,654
N/A VICE PRESIDENT 1.0
Officer Director
$0 $66,965 $1,172,612
N/A BOARD PRESIDENT 1.0
Officer Director
$0 $50,874 $982,066
N/A BOARD SECRETARY 1.0
Officer Director
$0 $0 $55,362
N/A BOARD CHAIRMAN 1.0
Officer Director
$0 $0 $0
N/A BOARD ASSISTANT SECRETARY 1.0
Officer Director
$0 $0 $0
N/A TREASURER 1.0
Officer Director
$0 $47,649 $490,861
N/A BOARD DIRECTOR 1.0
Director
$0 $0 $0
N/A FORMER BOARD VICE PRESIDENT 1.0
$0 $7,471 $113,878
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 No data No data No data No data
2023 $990,212 $911,023 $109,891,808 $79,189
2022 $963,318 $950,249 $87,935,637 $13,069
2021 $951,070 $775,053 $76,466,314 $176,017
2020 $734,522 $675,753 $76,237,478 $58,769
2019 $653,883 $652,075 $91,867,891 $1,808
2018 $566,413 $526,343 $64,239,179 $40,070
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