NEW YORK STATE NURSES ASSOCIATION BENEFITS FUND

EIN: 237336001 Mutual Benefit

ALBANY, NY

Total Revenue
$584,709,701
Total Expenses
$557,710,158
Total Assets
$119,897,327
Net Assets
$47,094,748
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1972
Legal Domicile
NY
Principal Officer
RONALD F LAMY
Phone
5188699501
Tax Period
2024-01-01 to 2024-12-31

NEW YORK STATE NURSES ASSOCIATION BENEFITS FUND, founded in 1972, is a major nonprofit in the Mutual Benefit sector that reported $584.7M in total revenue in fiscal year 2024. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $557.7M left a modest 5% surplus.

Mission

TO PROVIDE HOSPITALIZATION, BASIC AND MAJOR MEDICAL, DENTAL, PRESCRIPTION DRUG, OPTICAL, LIFE AND AD&D, SHORT TERM AND LONG TERM DISABILITY COVERAGE AND PAID FAMILY LEAVE (WHICH BEGAN IN 2018) TO REGISTERED NURSES AND OTHER HEALTHCARE PROFESSIONALS EMPLOYED BY EMPLOYERS WHOSE COLLECTIVE BARGAINING AGREEMENTS WITH THE NEW YORK STATE NURSES ASSOCIATION INCLUDED BENEFITS COVERAGE.

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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 $581,157,097
Investment Income $3,552,604
Other Revenue $0
TOTAL REVENUE $584,709,701

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,830,842
Fundraising Expenses $0
Other Expenses $1,467,507
TOTAL EXPENSES $557,710,158

Year-over-Year Comparison

2024 2023 Change
Revenue $584,709,701 $501,192,151 +0.2%
Expenses $557,710,158 $472,277,346 +0.2%
Net Income $26,999,543 $28,914,805 -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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Liquidity & Cash Position

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Governance

Voting Members
16
Independent Members
16
Employees
53
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
$725,357
Total Directors
16
$0
Key Employees
0
$0
Highest Compensated
3
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOHN BARRETT TRUSTEE 1.82
Director
$0 $0 $0
JEFFREY COHEN TRUSTEE 0.50
Director
$0 $0 $0
NANCY HAGANS TRUSTEE 0.23
Director
$0 $0 $0
JENNA HAYES TRUSTEE 0.41
Director
$0 $0 $0
NANCY KALEDA TRUSTEE 2.79
Director
$0 $0 $0
PATRICIA KANE TRUSTEE 0.46
Director
$0 $0 $0
TRACEY KAVANAGH TRUSTEE 0.69
Director
$0 $0 $0
MARC KRAMER TRUSTEE 0.67
Director
$0 $0 $0
JASON LIMSON TRUSTEE 0.15
Director
$0 $0 $0
BARBARA LOGAN TRUSTEE 0.77
Director
$0 $0 $0
GUY MENONNA TRUSTEE 0.23
Director
$0 $0 $0
ARI MOMA TRUSTEE 0.51
Director
$0 $0 $0
ROBERT OLIVER TRUSTEE 0.79
Director
$0 $0 $0
ALLYSON SELBY TRUSTEE 0.54
Director
$0 $0 $0
STACIE WILLIAMS TRUSTEE 0.29
Director
$0 $0 $0
DENNIS ZGODA TRUSTEE 0.52
Director
$0 $0 $0
RONALD F LAMY CEO 17.50
Officer
$0 $41,760 $411,748
CHRISTOPHER ROSETTI COO 17.50
Officer
$0 $41,760 $313,609
DAVID STUTSRIM IT MANAGER 17.50
Highest
$0 $41,760 $210,947
LINDA WHELTON BENEITS DEPT MGR 35.00
Highest
$0 $41,760 $182,894
ALICIA BUCHAN CONTROLLER 17.50
Highest
$0 $41,760 $180,660
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 $584,709,701 $557,710,158 $119,897,327 $26,999,543
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