Overview
What is Association Of Insurance & Reins Run-Off Cos Inc?
The Association of Insurance & Reins Run-Off Cos Inc, commonly known as AIRROC, is a nonprofit organization situated in Smithtown, New York. With a single employee, their primary focus is to promote and defend the interests of companies managing legacy business within the reinsurance sector. AIRROC strives to improve industry standards and foster better communication within and beyond the reinsurance industry. They achieve this goal by publishing AIRROC Matters, a publication that offers insights and commentary on run-off business in the United States, aiming to educate their members.
Official website here: www.airroc.org
Is Association Of Insurance & Reins Run-Off Cos Inc legitimate?
Association Of Insurance & Reins Run-Off Cos Inc is a legitimate nonprofit organization registered as a 501(c)(6) entity. Association Of Insurance & Reins Run-Off Cos Inc 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: $175,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.airroc.org
What is the mission statement of Association Of Insurance & Reins Run-Off Cos Inc?
The Association of Insurance & Reins Run-Off Cos Inc's mission is to advocate for entities with legacy business within the reinsurance industry. They aim to enhance industry standards and foster better communication both within and outside the sector. To achieve this, they publish a newsletter, AIRROC Matters, which provides insights and commentary on run-off business in the U.S., serving as an educational resource for their members. Essentially, their goal is to represent and support entities with legacy business, improving the overall health and knowledge base of the reinsurance industry.
Official website here: www.airroc.org
Who is the CEO of Association Of Insurance & Reins Run-Off Cos Inc?
Carolyn Fahey is the Executive Director of Association Of Insurance & Reins Run-Off Cos Inc.
Official website here: www.airroc.org
What is the revenue of Association Of Insurance & Reins Run-Off Cos Inc?
Association Of Insurance & Reins Run-Off Cos Inc's revenue in 2022 was $347,977.
Official website here: www.airroc.org
Who are the executives of Association Of Insurance & Reins Run-Off Cos Inc and what are their salaries?
The average compensation at Association Of Insurance & Reins Run-Off Cos Inc during 2022 was $175,000. There is 1 employee at Association Of Insurance & Reins Run-Off Cos Inc.
Here are 18 key members and their salaries:
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Official website here: www.airroc.org
Where can I find the form 990 for Association Of Insurance & Reins Run-Off Cos Inc?
Association Of Insurance & Reins Run-Off Cos Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.airroc.org
Learn more at the official website: www.airroc.org
Mission Statement of Association Of Insurance & Reins Run-Off Cos Inc
Association of Insurance & Reins Run-Off Cos Inc, often abbreviated as AIRROC, is dedicated to advocating for entities with legacy business within the reinsurance industry. The organization's primary mission is to enhance industry standards and foster better communication within and outside this sector. AIRROC achieves this by promoting knowledge and understanding, aiming to improve the overall functioning of the reinsurance industry.
To further its mission, AIRROC publishes a periodical titled AIRROC Matters. This publication serves as a valuable resource, providing insights and commentary on run-off business in the United States. The purpose of this endeavor is to educate AIRROC's members, ensuring they stay informed about the latest developments and trends in the reinsurance industry. By doing so, the organization strives to strengthen the capacity and effectiveness of its members, ultimately contributing to a more robust and sustainable reinsurance sector.
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Impact
October, 2024
The Association Of Insurance & Reins Run-Off Cos Inc (AIRROC) significantly influences the reinsurance landscape, primarily by advocating for entities involved with legacy business. Through its mission, AIRROC strives to enhance industry standards, which is critical for organizations managing run-off operations. This effort not only aids in the stabilization and improvement of these entities but also fosters a collaborative environment for sharing knowledge and best practices.
By publishing "AIRROC Matters," the organization provides essential insights and commentary on run-off business in the U.S. This resource effectively educates its members and stakeholders, contributing to a more informed community within the reinsurance industry. The emphasis on improving communication and knowledge transfer is key to navigating the complexities associated with legacy business, ultimately benefiting the broader industry and its clients.
Overall, AIRROC's role in promoting best practices and advocating for entities with legacy business marks a significant step towards enhancing the reputation and operational efficiencies within the reinsurance sector.
This information is meant to be a general summary of Association Of Insurance & Reins Run-Off Cos Inc. 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: $5,835
- Program Service Revenue: $2,650
- Gross Receipts: $503,010
Assets and Liabilities:
- Total Assets: $563,574
- Total Liabilities: $82,000
- Net Assets: $481,574
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Advertising Revenue
Revenue
$2,650
Organization Details
Founding Year
2004
Phone
(703) 730-2808Principal Officer
Carolyn Fahey
Main Address
67 Aberdeen Road, Smithtown, NY, 11787
Website
www.airroc.orgNTEE Category
Code: S41 - Community improvement
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