Overview
What is New Mexico Property Insurance Program?
The New Mexico Property Insurance Program is a nonprofit organization situated in Albuquerque, New Mexico, specifically at 2201 SAN PEDRO NE 20. Its primary mission is to provide essential property insurance to residents of New Mexico who struggle to obtain it through regular insurance markets. As of December 31, 2022, they had 7,246 active policies, and in 2022, they processed 476 claims. With a small team of five dedicated individuals, they strive to make property insurance more accessible in their state.
Official website here: www.nmpropertyinsurance.com
Is New Mexico Property Insurance Program legitimate?
New Mexico Property Insurance Program is a legitimate nonprofit organization registered as a 501(c)(6) entity. New Mexico Property Insurance Program submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $167,167
Professional Fundraising Fees: $0
Other Salaries and Wages: $190,922
For more financial information, click here
Official website here: www.nmpropertyinsurance.com
What is the mission statement of New Mexico Property Insurance Program?
The New Mexico Property Insurance Program's mission is centered around providing essential property insurance to individuals in New Mexico who have difficulty securing it in the conventional market. This program serves as a vital resource for these applicants, ensuring they have the necessary protection for their properties. In 2022, the program processed 476 claims, and as of December 31, 2022, there were 7,246 active policies in force.
Official website here: www.nmpropertyinsurance.com
Who is the CEO of New Mexico Property Insurance Program?
Analisa Sisneros is the Executive Director of New Mexico Property Insurance Program.
Official website here: www.nmpropertyinsurance.com
What is the revenue of New Mexico Property Insurance Program?
New Mexico Property Insurance Program's revenue in 2022 was $4,630,797.
Official website here: www.nmpropertyinsurance.com
Who are the executives of New Mexico Property Insurance Program and what are their salaries?
The average compensation at New Mexico Property Insurance Program during 2022 was $71,618. There are 5 employees and 8 volunteers at New Mexico Property Insurance Program.
Here are 11 key members and their salaries:
- Compensation: $91,232
- Related: $0
- Other: $7,592
- Compensation: $66,605
- Related: $0
- Other: $1,738
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.nmpropertyinsurance.com
Where can I find the form 990 for New Mexico Property Insurance Program?
New Mexico Property Insurance Program's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nmpropertyinsurance.com
Learn more at the official website: www.nmpropertyinsurance.com
Mission Statement of New Mexico Property Insurance Program
The New Mexico Property Insurance Program, in essence, is dedicated to providing essential property insurance to individuals in New Mexico who are unable to obtain it in the typical insurance market. This mission is crucial, as it ensures that these applicants are not left unprotected against potential property-related losses. During the year 2022, the program processed 476 claims, demonstrating its active role in fulfilling this mission. As of December 31, 2022, there were 7,246 policies in force, indicating a significant number of individuals and properties benefiting from the program's services. The New Mexico Property Insurance Program plays a vital role in providing a safety net for those who may struggle to secure property insurance in the ordinary market, thereby offering peace of mind and protection against potential property-related misfortunes.
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Impact
October, 2024
The New Mexico Property Insurance Program (NMPIP) plays a crucial role in ensuring that residents in New Mexico have access to essential property insurance, especially those who cannot find coverage in the standard insurance market. In 2022, the program processed 476 claims, highlighting its importance in providing support during times of need. With 7,246 policies in force by the end of that year, the NMPIP has established itself as a vital safety net for property owners who may be at risk due to factors like high-risk locations or properties that do not meet conventional underwriting criteria. By facilitating access to property insurance, the program helps protect homeowners and their investments, contributing to stability in local communities.
This information is meant to be a general summary of New Mexico Property Insurance Program. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $161,525
- Program Service Revenue: $4,469,272
- Gross Receipts: $4,630,797
Assets and Liabilities:
- Total Assets: $9,875,754
- Total Liabilities: $4,601
- Net Assets: $9,871,153
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PREMIUMS COLLECTED
Revenue
$4,469,272
Organization Details
Founding Year
1969
Phone
(505) 878-9563Principal Officer
Analisa Sisneros
Main Address
2201 SAN PEDRO NE 20, ALBUQUERQUE, NM, 87110
Website
www.nmpropertyinsurance.comNTEE Category
Code: Y20 - Mutual benefit
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