North Carolina Insurance
Raleigh, NC 27607 · IRS data through FY2025
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2025 | $673,514,463 | $320,384,889 | $1,723,917,960 |
| FY2024 | $570,779,362 | $316,794,661 | $1,370,958,801 |
| FY2023 | $446,830,243 | $244,465,418 | $1,119,270,786 |
| FY2022 | $357,797,739 | $184,740,119 | $918,914,104 |
| FY2021 | $314,057,800 | $164,666,796 | $741,540,658 |
| FY2020 | $279,001,377 | $202,513,546 | $590,617,742 |
| FY2019 | $281,482,867 | $367,397,328 | $514,656,476 |
| FY2018 | $349,643,486 | $1,312,128,310 | $601,535,098 |
| FY2017 | $337,063,764 | $90,730,088 | $1,543,126,366 |
| FY2016 | $311,782,864 | $166,051,229 | $1,304,864,519 |
| FY2015 | $287,644,574 | $94,743,293 | $1,164,180,092 |
| FY2014 | $253,399,904 | $115,842,640 | $977,211,165 |
| FY2013 | $197,422,735 | $91,870,202 | $841,454,384 |
| FY2012 | $40,695,472 | $17,530,496 | $736,128,343 |
Form 990 filings
The returns filed by North Carolina Insurance (EIN 23-7102759), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $0 | 0% |
| Program service revenue | $594,515,836 | 88% |
| Other revenue | $78,998,627 | 12% |
What the numbers show
- Program service revenue made up 88% of total revenue in FY2025.
- Net assets covered about 64.6 months of expenses at the end of the reporting year.
- Total revenue rose from $40,695,472 in FY2012 to $673,514,463 in FY2025. Revenue increased in 11 and decreased in 2 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 2 of 14 reported years (FY2018, FY2019).
- Net assets grew from $736,128,343 to $1,723,917,960 between FY2012 and FY2025.
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
IN 1969, THE NORTH CAROLINA GENERAL ASSEMBLY ESTABLISHED THE ASSOCIATION AS A MARKET OF LAST RESORT TO PROVIDE PROPERTY INSURANCE IN THE BEACH AND COASTAL AREAS OF NORTH CAROLINA FOR INDIVIDUALS AND BUSINESSES WHO ARE UNABLE TO BUY IT IN THE STANDARD INSURANCE MARKET.
IRS status
| Ruling year | 1971 |
| Subsection | 501(c)(6) |
Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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