MASSACHUSETTS BANKER ASSOCIATION GROUP INSURANCE TRUST (EIN 042628271) - 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

1953

Legal Domicile

Principal Officer

WILLIAM TSOULES

Phone

6175237595

Tax Period

2023-01-01 to 2023-12-31

MASSACHUSETTS BANKER ASSOCIATION GROUP INSURANCE TRUST, founded in 1953, is a small nonprofit that reported $170K in total revenue in fiscal year 2023. Expenses of $201K exceeded revenue, resulting in a 18% operating deficit.

Mission

THE TRUST IS OPERATED FOR THE PURPOSE OF PROVIDING VARIOUS TYPES OF INSURANCE TO MEMBER BANKS' EMPLOYEES AT COSTS WHICH ARE LESS THAN THOSE OBTAINABLE ON AN INDIVIDUAL BANK BASIS

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $99,350

Investment Income $70,266

Other Revenue $0

TOTAL REVENUE $169,616

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $70,124

Other Expenses $200,529

TOTAL EXPENSES $200,529

Year-over-Year Comparison

	2023	2022	Change
Revenue	$169,616	$176,489	0.0%
Expenses	$200,529	$78,093	+1.6%
Net Income	$-30,913	$98,396	-1.3%

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

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
CHERYL CORMAN	CO-CHAIR/TRUSTEE	1.00	Officer Director	$0	$0	$0
BRETT DEAN	CHAIRMAN/TRUSTEE	1.00	Officer Director	$0	$0	$0
CHUCK LEACH	TRUSTEE	1.00	Director	$0	$0	$0
KARA CLARK	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL R WHEELER	TRUSTEE	1.00	Director	$0	$0	$0
MARIA VAFIADES	TRUSTEE	1.00	Director	$0	$0	$0
MATTHEW BURKE	TRUSTEE	1.00	Director	$0	$0	$0
JAMES FERRARA	TRUSTEE	1.00	Director	$0	$0	$0
KATHLEEN MURPHY	TREASURER/TRUSTEE	1.00	Officer Director	$0	$0	$0
MARGARET SULLIVAN	TRUSTEE	1.00	Director	$0	$0	$0
WILLIAM TSOULES	SVP/CFO	1.00	Officer	$0	$0	$0
CHAD POOK	DIRECTOR OF ADMIN	1.00	Officer	$0	$0	$0
TANYA DUNCAN	COO	1.00	Officer	$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
2024	No data	No data	No data	No data
2023	$169,616	$200,529	$5,054,551	$-30,913
2022	$176,489	$78,093	$5,036,501	$98,396
2021	$348,414	$134,885	$4,931,782	$213,529
2020	$74,803	$197,029	$4,712,024	$-122,226
2019	$524,638	$143,682	$4,887,533	$380,956
2018	$2,507,667	$645,942	$4,585,436	$1,861,725

MASSACHUSETTS BANKER ASSOCIATION GROUP INSURANCE TRUST