Aipso
501(c)(6)
Thin reserves Growing revenue
Aipso is a 501(c)(6) organization based in Johnston, Rhode Island, registered in 1973, with $140,283,243 in FY2024 revenue.
302 Central Ave, Johnston, RI, 02919 EIN 13-2732270 Since 1973
Revenue (FY2024)
$140.3M
▲ 8.9% vs prior year
Expenses (FY2024)
$133.6M
Net assets
$3.7M
Employees
603
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B
★★★★
Rated on 3 of 4 criteria — the rest aren't reported in this filing type.
Held down by its weakest criterion — a strong score on one criterion can't hide a weak one.
How the rating works →—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Aipso— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
CFinancial health25% of the rating0 mo reserves · +5% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Aipso: 0 mo reserves · +5% margin earns a C on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Aipso: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Aipso: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
Show this grade on your website
A live seal — it updates automatically when the grade changes and links donors to this verified profile.
Mission
Aipsos mission is to provide high quality services for the insurance residual market at the lowest possible cost.
What they do
Rating & actuarial services is a licensed rating and/or advisory organization in more than 45 states and the district of columbia. we (1) collect, evaluate, and edit insurance premium,loss,and expense data received from statistical organizations that collect the data from insurance companies, (2) develop rates and rating rules designed specifically for the residual market, (3) develop individual rates for unique risks not specifically rated from the rating manuals, (4) present rate indications to governing committees, (5) file rates and rules with regulators on behalf of state residual market organizations, (6) provide rates and rules in both print and online formats.
Aipso insurance operations services functions as a service provider to private and commercial risks in support of the auto insurance residual markets commercial automobile insurance procedures (caips), joint underwriting associations (juas), and personal automobile insurance plans (paips) and private passenger pools (ppps). we (1)utilize a fronting company vendor in jurisdictions where plan paper is not currently approved for use, (2)underwrite and issue policies assigned via contract with specific state plan mechanisms, (3)provide customer service to producers and policyholders, (4)work with a claims vendor to service and settle all claims arising from issued policies and (5)report premium and loss statistical data to the mechanisms statistical agents.
Producer certification services provides support for producer licensing and certification for residual market organizations. management consulting services provide management expertise on a consulting basis to residual market mechanisms that are supported, but not managed, by our organization.
Contact & location
- Address
- 302 Central Ave, Johnston, RI, 02919
- City
- Johnston
- State
- Rhode Island
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $37.6M (FY2013) to $140.3M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $101.2MNet assets $3.7M
Operating margin
4.8%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$104.9M
Total liabilities
$101.2M
Net assets
$3.7M
Salaries & benefits
$68.3M
51% of expenses
Board members
13
13 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $140,283,243▲8.9% | $133,598,722▲17.9% | $3,738,224▲133% | $104,901,695▲4.2% | 990 |
| 2023 | $128,830,883▲61.7% | $113,341,670▲48.9% | -$11,171,458▲51.7% | $100,666,444▲19.6% | 990 |
| 2022 | $79,668,644▲33.4% | $76,128,415▲26.5% | -$23,133,886▲46.4% | $84,201,784▲92.6% | 990 |
| 2021 | $59,723,963▲8.3% | $60,198,100▲8.4% | -$43,172,439▲34.5% | $43,724,531▼1.2% | 990 |
| 2020 | $55,130,389▲10.8% | $55,538,200▲7.6% | -$65,926,725▼5.3% | $44,275,857▲10.3% | 990 |
| 2019 | $49,758,025▲1.0% | $51,635,436▲4.4% | -$62,597,509▼40.7% | $40,152,198▲8.8% | 990 |
| 2018 | $49,264,806▲5.8% | $49,473,032▼0.3% | -$44,481,622▲22.2% | $36,921,238▲3.6% | 990 |
| 2017 | $46,573,943▲1.6% | $49,644,062▲2.5% | -$57,165,601▼7.3% | $35,621,523▼6.5% | 990 |
| 2016 | $45,839,166▼2.1% | $48,410,005▲0.5% | -$53,257,085▼13.4% | $38,094,198▲13.0% | 990 |
| 2015 | $46,818,970▲25.5% | $48,161,095▲28.8% | -$46,953,338▲11.3% | $33,710,947▲30.7% | 990 |
| 2014 | $37,314,314▼0.7% | $37,386,630▼5.7% | -$52,944,274▼79.5% | $25,786,681▲7.1% | 990 |
| 2013 | $37,568,089 | $39,630,566▲5.2% | -$29,503,588▲34.5% | $24,067,621▼20.8% | 990 |
| 2012 | — | $37,686,781▲6.5% | -$45,039,497▼21.2% | $30,374,461▲26.2% | 990 |
| 2011 | — | $35,393,458▲4.9% | -$37,162,458▼53.7% | $24,069,476▼8.8% | 990 |
| 2010 | — | $33,745,130 | -$24,179,725 | $26,384,961 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Charles Kwolek — $713,334 (0.53% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Charles Kwolek | President & Chief Executive Officer | 37.5 | $713,334 |
| Frank Pensabene | Svp & Chief Operating Officer | 37.5 | $346,917 |
| Joseph Agresta | Vp & Chief Information Officer | 37.5 | $308,206 |
| Amy Hicks | Vp & Chief Actuary | 37.5 | $301,952 |
| Robert Powers | Vp,general Counsel & Secretary | 37.5 | $274,075 |
| Timothy Messier | Avp & Actuarial Team Leader | 37.5 | $267,132 |
| Kevin Leeman | Sr Director & Chief of Financial Operations | 37.5 | $248,488 |
| Keith Gentile | Actuary & Actuarial Team Leader | 37.5 | $226,725 |
| Matthew Mayfield | Director, Aio Commercial Auto | 37.5 | $210,775 |
| Grace Lopes | Senior Counsel | 37.5 | $209,573 |
| Michael O'leary | Senior Counsel | 37.5 | $207,472 |
| Douglas Beck | Director, Aio Enablement Services | 37.5 | $195,399 |
| Barry Zalcman | Vp Insurance Operations | 37.5 | $186,976 |
| Adam Laflamme | Vp & Chief Technology Officer | 37.5 | $177,454 |
| Allstate Ins Co | Gov Comm Member | 1 | — |
| Amica Mut Ins Co | Gov Comm Member | 1 | — |
| Farmers Ins Exchange | Gov Comm Member | 1 | — |
| Geico General Ins Co | Gov Comm Member | 1 | — |
| Hanover Ins Co | Gov Comm Member | 1 | — |
| Interinsurance Exchange of the Auto Club | Gov Comm Member | 1 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Acrisure LLC | Commission | $2,597,358 |
| Kpmg LLP | Audit | $1,545,270 |
| Phoenix Risk Management LLC | Commission | $716,125 |
| Velocity Ins Multiservice LLC | Commission | $583,212 |
| Colonial Ins Svcs LLC | Commission | $581,182 |
Frequently asked questions
- Is Aipso a legitimate nonprofit?
- Yes. Aipso is a 501(c)(6) organization registered with the U.S. Internal Revenue Service under EIN 13-2732270, based in Johnston, Rhode Island.
- What is Aipso's EIN?
- Aipso's Employer Identification Number (EIN) is 13-2732270.
- How much revenue does Aipso report?
- Aipso reported $140,283,243 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much does Aipso's highest-paid employee make?
- The highest reported compensation on Aipso's latest Form 990 is $713,334, paid to Charles Kwolek (President & Chief Executive Officer).
More nonprofits in Johnston
Explore more
Data for Aipso (EIN 13-2732270) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.