LIFE INSURANCE ASSOCIATION OF MASSACHUSETTS INC (EIN 237431257) - 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

1974

Legal Domicile

Principal Officer

JENNY ERICKSON

Phone

6173759200

Tax Period

2023-01-01 to 2023-12-31

LIFE INSURANCE ASSOCIATION OF MASSACHUSETTS INC, founded in 1974, is a small nonprofit that reported $938K in total revenue in fiscal year 2023.

Mission

THE LIFE INSURANCE ASSOCIATION OF MASSACHUSETTS REPRESENTS ITS COLLECTIVE MEMBERSHIP AND ADVOCATES POSITIONS THAT ESTABLISH AND MAINTAIN A FAVORABLE BUSINESS CLIMATE IN WHICH MEMBER COMPANIES CAN PROSPER

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $937,530

Investment Income $430

Other Revenue $0

TOTAL REVENUE $937,960

Expense Breakdown

Grants Paid $0

Salaries & Benefits $715,839

Fundraising Expenses $0

Program Expenses $894,413

Other Expenses $218,966

TOTAL EXPENSES $934,805

Year-over-Year Comparison

	2023	2022	Change
Revenue	$937,960	$954,019	0.0%
Expenses	$934,805	$945,214	0.0%
Net Income	$3,155	$8,805	-0.6%

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

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

$567,253

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DOMINICK IANNO	TREASURER	1.00	Officer Director	$0	$0	$0
ROGER CRANDELL	DIRECTOR	1.00	Director	$0	$0	$0
BROOKS TINGLE	DIRECTOR	1.00	Director	$0	$0	$0
LARRY HAZARD	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD P MCKENNEY	DIRECTOR	1.00	Director	$0	$0	$0
PAUL QUARANTO JR	DIRECTOR	1.00	Director	$0	$0	$0
JAMES MORGAN	DIRECTOR	1.00	Director	$0	$0	$0
LUKE DILLON	PRESIDENT	40.00	Officer	$348,563	$0	$348,563
JENNY A ERICKSON	SECRETARY	40.00	Officer	$218,690	$0	$218,690

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	$937,960	$934,805	$305,180	$3,155
2022	$954,019	$945,214	$551,476	$8,805
2022	$954,019	$945,214	$551,476	$8,805
2021	$1,177,833	$837,453	$612,077	$340,380
2020	$962,468	$848,965	$296,989	$113,503
2019	$820,847	$873,640	$602,678	$-52,793
2018	$849,045	$848,324	$349,097	$721

LIFE INSURANCE ASSOCIATION OF MASSACHUSETTS INC