Nonprofit Insurance Trust

Analysis

Nonprofit Insurance Trust is a registered charity in United States, based in Lakeville, MN. It received its IRS tax-exemption ruling in December 2012, 14 years ago. Its declared purposes cover mutual and membership benefit, which this site groups under other charitable purposes. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Nonprofit Insurance Trust reported income of $17.9m and spending of $15.1m, spending 85% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $16.8m to $17.9m (+6.5%), an average of +1.6% a year. Over the whole period it spent 84% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Nonprofit Insurance Trust sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within MN. Charities of a similar size with the same main cause include Development Homes Inc ($17.9m), Alliance for Nonprofit Resources ($17.9m) and Texas Reliability Entity Inc ($17.9m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 96% of the total. At year end it held assets of $45.4m against liabilities of $20.6m, net assets of $24.7m.