AIPSO

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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

1973

Legal Domicile

Phone

4019462310

Tax Period

2024-01-01 to 2024-12-31

AIPSO, founded in 1973, is a major nonprofit that reported $140.3M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $133.6M left a modest 5% surplus.

Mission

AIPSOs mission is to provide high quality services for the insurance residual market at the lowest possible cost.

Program Service Accomplishments

Program 1

Automated Information Systems Services provides and supports information systems for any residual market mechanism. We (1) provide systems planning and design, (2) coordinate telecommunications...

Automated Information Systems Services provides and supports information systems for any residual market mechanism. We (1) provide systems planning and design, (2) coordinate telecommunications, networking, and data transmission, (3) offer programming expertise, (4) provide and maintain software, systems, and equipment,(5) implement, monitor, and maintain data and systems security.

Program 2

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...

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.

Program 3

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...

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.

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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 $138,056,873

Investment Income $1,889,518

Other Revenue $336,852

TOTAL REVENUE $140,283,243

Expense Breakdown

Grants Paid $0

Salaries & Benefits $68,306,439

Fundraising Expenses $0

Other Expenses $65,292,283

TOTAL EXPENSES $133,598,722

Year-over-Year Comparison

	2024	2023	Change
Revenue	$140,283,243	$128,830,883	+0.1%
Expenses	$133,598,722	$113,341,670	+0.2%
Net Income	$6,684,521	$15,489,213	-0.6%

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

603

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

$3,421,647

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	Gov Comm Member	1.00	Director	$0	$0	$0
N/A	Gov Comm Member	1.00	Director	$0	$0	$0
N/A	Gov Comm Member	1.00	Director	$0	$0	$0
N/A	Gov Comm Member	1.00	Director	$0	$0	$0
N/A	Gov Comm Member	1.00	Director	$0	$0	$0
N/A	Gov Comm Member	1.00	Director	$0	$0	$0
N/A	Gov Comm Member	1.00	Director	$0	$0	$0
N/A	Gov Comm Member	1.00	Director	$0	$0	$0
N/A	Gov Comm Member	1.00	Director	$0	$0	$0
N/A	Gov Comm Member	1.00	Director	$0	$0	$0
N/A	Gov Comm Member	1.00	Director	$0	$0	$0
N/A	Gov Comm Member	1.00	Director	$0	$0	$0
N/A	Gov Comm Member	1.00	Director	$0	$0	$0
Joseph Agresta	VP & Chief Information Officer	37.50	Officer	$308,206	$57,963	$366,169
Amy Hicks	VP & Chief Actuary	37.50	Officer	$301,952	$50,471	$352,423
Charles Kwolek	President & Chief Executive Officer	37.50	Officer	$713,334	$132,197	$845,531
Adam LaFlamme	VP & Chief Technology Officer	37.50	Officer	$177,454	$41,797	$219,251
Kevin Leeman	Sr Director & Chief of Financial Operations	37.50	Officer	$248,488	$59,398	$307,886
Timothy Messier	AVP & Actuarial Team Leader	37.50	Officer	$267,132	$68,662	$335,794
Frank Pensabene	SVP & Chief Operating Officer	37.50	Officer	$346,917	$71,997	$418,914
Robert Powers	VP,General Counsel & Secretary	37.50	Officer	$274,075	$71,938	$346,013
Barry Zalcman	VP Insurance Operations	37.50	Officer	$186,976	$42,690	$229,666
Douglas Beck	Director, AIO Enablement Services	37.50	Highest	$195,399	$52,041	$247,440
Keith Gentile	Actuary & Actuarial Team Leader	37.50	Highest	$226,725	$58,326	$285,051
Grace Lopes	Senior Counsel	37.50	Highest	$209,573	$55,954	$265,527
Matthew Mayfield	Director, AIO Commercial Auto	37.50	Highest	$210,775	$42,552	$253,327
Michael O'Leary	Senior Counsel	37.50	Highest	$207,472	$42,676	$250,148

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	$140,283,243	$133,598,722	$104,901,695	$6,684,521
2023	$128,830,883	$113,341,670	$100,666,444	$15,489,213
2022	$79,668,644	$76,128,415	$84,201,784	$3,540,229
2021	$59,723,963	$60,198,100	$43,724,531	$-474,137
2020	$55,130,389	$55,538,200	$44,275,857	$-407,811
2019	$49,758,025	$51,635,436	$40,152,198	$-1,877,411
2018	$49,264,806	$49,473,032	$36,921,238	$-208,226