INSURANCE COUNCIL OF NJ INC

EIN: 222233048

TRENTON, NJ

Total Revenue
$991,280
Total Expenses
$876,977
Total Assets
$1,954,167
Net Assets
$1,493,551
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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
NJ
Phone
6093930025
Tax Period
2024-01-01 to 2024-12-31

INSURANCE COUNCIL OF NJ INC, founded in 1977, is a small nonprofit that reported $991K in total revenue in fiscal year 2024. Expenses of $877K left a modest 12% surplus.

Mission

TO CREATE A POSITIVE IMAGE AND UNDERSTANDING OF THE PROPERTY/CASUALTY INSURANCE BUSINESS AND TO PROMOTE A POSITIVE BUSINESS ENVIRONMENT THROUGH EDUCATION, PUBLIC INFORMATION AND COMMUNICATION.

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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 $0
Program Service Revenue $902,339
Investment Income $85,857
Other Revenue $3,084
TOTAL REVENUE $991,280

Expense Breakdown

Grants Paid $0
Salaries & Benefits $646,786
Fundraising Expenses $0
Program Expenses $261,755
Other Expenses $230,191
TOTAL EXPENSES $876,977

Year-over-Year Comparison

2024 2023 Change
Revenue $991,280 $918,406 +0.1%
Expenses $876,977 $789,656 +0.1%
Net Income $114,303 $128,750 -0.1%
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

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
21
Independent Members
21
Employees
4
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
2
$393,417
Total Directors
19
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHRISTINE O'BRIEN President 40.00
Officer
$255,330 $8,024 $263,354
GARY R LASPISA II Vice President 40.00
Officer
$125,814 $4,249 $130,063
TINNA QUIGLEY BOARD MEMBER 1.00
Director
$0 $0 $0
MELISSA MCGRATH BOARD MEMBER 1.00
Director
$0 $0 $0
RICHARD CHICHESTER BOARD MEMBER 1.00
Director
$0 $0 $0
ANDREW MUSICK BOARD MEMBER 1.00
Director
$0 $0 $0
W LESTER BOSWELL III BOARD MEMBER 1.00
Director
$0 $0 $0
ADRIAN FROST BOARD MEMBER 1.00
Director
$0 $0 $0
JOHN MILETTI BOARD MEMBER 1.00
Director
$0 $0 $0
JOHN CERRONE BOARD MEMBER 1.00
Director
$0 $0 $0
THOMAS HYMAN BOARD MEMBER 1.00
Director
$0 $0 $0
CRISTINA PASQUALE BOARD MEMBER 1.00
Director
$0 $0 $0
SHAWN M KAIN BOARD MEMBER 1.00
Director
$0 $0 $0
MICHAEL GEESER BOARD MEMBER 1.00
Director
$0 $0 $0
GEORGIA FLAMPORIS BOARD MEMBER 1.00
Director
$0 $0 $0
RON MARTIN BOARD MEMBER 1.00
Director
$0 $0 $0
JEREMY EISEMANN BOARD MEMBER 1.00
Director
$0 $0 $0
HARRIS BERENSON BOARD MEMBER 1.00
Director
$0 $0 $0
JEFFREY BECK BOARD MEMBER 1.00
Director
$0 $0 $0
TRACEY GENTRY HARNEY BOARD MEMBER 1.00
Director
$0 $0 $0
ADAM KERNS BOARD MEMBER 1.00
Director
$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
2024 $991,280 $876,977 $1,954,167 $114,303
2023 $918,406 $789,656 $1,779,021 $128,750
2022 $847,870 $792,503 $1,686,229 $55,367
2021 $996,590 $1,010,429 $1,606,317 $-13,839
2020 $763,276 $724,401 $1,727,678 $38,875
2019 $1,143,047 $1,055,782 $1,709,107 $87,265
2018 $1,190,847 $1,079,394 $1,552,403 $111,453
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