STATE RISK & INSURANCE MANAGEMENT ASSOCIATION (EIN 010442447) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1974

Legal Domicile

Principal Officer

FAITH KNOWLTON

Phone

6015762553

Tax Period

2025-01-01 to 2025-12-31

STATE RISK & INSURANCE MANAGEMENT ASSOCIATION, founded in 1974, is a small nonprofit in the Public & Societal Benefit sector that reported $379K in total revenue in fiscal year 2025. Expenses of $428K exceeded revenue, resulting in a 13% operating deficit.

Mission

TO BRING TOGETHER RISK AND INSURANCE MAGERS OF STATE GOVERNMENTS INTO A ORGANIZATION TO PROMOTE THE ADVANCEMENT OF RISK MANAGEMENT PRINCIPLES AND PRACTICES IN THE PUBLIC SECTOR BY EXCHANGING INFORMATION, FACILITATING TRAIINING OPPORTUNITIES AND PROMOTING THE HIGHEST LEVEL OF PROFESSIONAL AND ETHICAL STANDARDS AMONG ITS MEMBERSHIP.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $221,350

Program Service Revenue $156,957

Investment Income $41

Other Revenue $396

TOTAL REVENUE $378,744

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $386,692

Other Expenses $427,781

TOTAL EXPENSES $427,781

Year-over-Year Comparison

	2025	2024	Change
Revenue	$378,744	$360,700	+0.1%
Expenses	$427,781	$401,323	+0.1%
Net Income	$-49,037	$-40,623	+0.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NATHAN CULP	PAST PRESIDE	1.00	Officer Director	$0	$0	$0
WADE DAMRON	PRESIDENT EL	1.00	Officer Director	$0	$0	$0
LEON ELLIS	COST OF RISK	1.00	Officer Director	$0	$0	$0
JASON GATES	EDUCATION CH	1.00	Officer Director	$0	$0	$0
SARAH GREGORY	CONFERENCE H	5.00	Officer Director	$0	$0	$0
MANDY HAGLER	PAST PAST PR	1.00	Officer Director	$0	$0	$0
FAITH KNOWLTON	TREASURER	5.00	Officer Director	$0	$0	$0
JANET MORROW	PRESIDENT	5.00	Officer Director	$0	$0	$0
SHEILA REINHART	ASSOCIATE AD	1.00	Officer Director	$0	$0	$0
LYDIA SCANTON	ASSOCIATE AD	1.00	Officer Director	$0	$0	$0
GARY WESTMAN	CONFERENCE H	1.00	Officer Director	$0	$0	$0
CLINT WITHERINGTON	WEB CHAIR	1.00	Officer Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$378,744	$427,781	$344,731	$-49,037
2024	$360,700	$401,323	$393,768	$-40,623
2023	$347,041	$329,642	$459,354	$17,399
2022	$298,940	$345,943	$441,955	$-47,003
2021	$219,726	$215,224	$488,958	$4,502
2020	$49,027	$19,260	$459,493	$29,767
2019	$285,137	$200,158	$429,726	$84,979
2018	$305,950	$271,734	$344,747	$34,216

STATE RISK & INSURANCE MANAGEMENT ASSOCIATION