SOCIETY OF INSURANCE FINANCIAL MAN… - Form 990 Financial Data

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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

1959

Legal Domicile

Principal Officer

YELENA LAFORGIA

Phone

9733036297

Tax Period

2024-01-01 to 2024-12-31

SOCIETY OF INSURANCE FINANCIAL MANAGEMENT, founded in 1959, is a small nonprofit that reported $216K in total revenue in fiscal year 2024.

Mission

THE ORGANIZATION PROVIDES A FORUM FOR MEMBERS TO LEARN, SHARE AND UNDERSTAND RECENT DEVELOPMENTS IN INSURANCE AND REINSURANCE ACCOUNTING, FINANCIAL REPORTING, TAXATION, REGULATION AND INFORMATION TECHNOLOGY. IT IS A TRUSTED COMMUNITY OF FINANCIAL INSURANCE PROFESSIONALS THAT FOSTERS AN EXCHANGE OF IDEAS AMONG ITS MEMBERS.

Program Service Accomplishments

Program 1

SIFM RUNS 4 QUARTERLY CONFERENCES EACH YEAR. SIFM AFFORDS MEMBERS THE OPPORTUNITY TO LEARN ABOUT TOPICS THAT HAVE AN IMPACT ON THE INSURANCE SECTOR FOCUSING ON REGULATORY CHANGES AND TRENDS IN THE...

SIFM RUNS 4 QUARTERLY CONFERENCES EACH YEAR. SIFM AFFORDS MEMBERS THE OPPORTUNITY TO LEARN ABOUT TOPICS THAT HAVE AN IMPACT ON THE INSURANCE SECTOR FOCUSING ON REGULATORY CHANGES AND TRENDS IN THE INSURANCE SECTOR.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $201,724

Investment Income $10

Other Revenue $13,869

TOTAL REVENUE $215,603

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $231,420

TOTAL EXPENSES $231,420

Year-over-Year Comparison

	2024	2023	Change
Revenue	$215,603	$202,669	+0.1%
Expenses	$231,420	$207,899	+0.1%
Net Income	$-15,817	$-5,230	+2.0%

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
YELENA LAFORGIA	PRESIDENT	1.25	Officer Director	$0	$0	$0
JAYME MALIMBAN	BOARD MEMBER	0.25	Director	$0	$0	$0
SEAN W EGAN	BOARD MEMBER	0.25	Director	$0	$0	$0
MICHAEL J CASTELLI	BOARD MEMBER	0.25	Director	$0	$0	$0
LAURIE L HARRIS	BOARD MEMBER	0.25	Director	$0	$0	$0
PAUL MALLEN	BOARD MEMBER	0.25	Director	$0	$0	$0
CHRISTOPHER MCNULTY	BOARD MEMBER	0.25	Director	$0	$0	$0
MATTHEW TIERNEY	BOARD MEMBER	0.25	Director	$0	$0	$0
JOHN YOON	BOARD MEMBER	1.25	Director	$0	$0	$0
ELAINE LEHNERT	BOARD MEMBER	0.25	Director	$0	$0	$0
SARAH SHELDON	BOARD MEMBER	0.75	Director	$0	$0	$0
RUSSEL SOMMERS	VICE PRESIDENT	1.25	Officer Director	$0	$0	$0
DANA D'AMELIO	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN SWANICK	BOARD MEMBER	0.75	Director	$0	$0	$0
FLORIE BOURREL-HELEINE	BOARD MEMBER	1.00	Director	$0	$0	$0
MICHELE LANDON	BOARD MEMBER	0.50	Director	$0	$0	$0
LUCY LILLYCORP	BOARD MEMBER	1.00	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	No data	No data	No data	No data
2024	$215,603	$231,420	$60,332	$-15,817
2023	$202,669	$207,899	$70,855	$-5,230
2022	$181,896	$168,679	$74,542	$13,217
2021	$67,371	$76,121	$61,703	$-8,750
2020	$23,608	$71,169	$74,744	$-47,561
2019	$185,789	$189,353	$130,691	$-3,564
2018	$122,287	$146,192	$138,962	$-23,905

SOCIETY OF INSURANCE FINANCIAL MANAGEMENT