IONA MCGREGOR RETIREE INS TR FUND (EIN 146325156) - 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

2007

Legal Domicile

Principal Officer

KHALID AQUIL

Phone

2394330660

Tax Period

2023-10-01 to 2024-09-30

IONA MCGREGOR RETIREE INS TR FUND, founded in 2007, is a community nonprofit in the Mutual Benefit sector that reported $1.0M in total revenue in fiscal year 2023. Revenue surged 24% from the prior year, signaling strong growth momentum. The organization ran a surplus of $485K, a strong 47% operating margin.

Mission

THIS FUND HAS BEEN ESTABLISHED TO PROVIDE POST-RETIREMENT HEALTH BENEFITS FOR THE IONA-MCGREGOR FIRE PROTECTION AND RESCUE SERVICE DISTRICT, A GOVERNMENTAL UNIT ESTABLISHED UNDER FLORIDA STATUTE.

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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 $643,095

Investment Income $380,644

Other Revenue $0

TOTAL REVENUE $1,023,739

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $34,428

TOTAL EXPENSES $538,717

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,023,739	$827,729	+0.2%
Expenses	$538,717	$541,371	0.0%
Net Income	$485,022	$286,358	+0.7%

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

$523,203

Total Directors

$817,035

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KHALID AQUIL	CHAIR	1.00	Officer Director	$0	$0	$197,699
MARK WINZENREAD	SECRETARY	1.00	Officer Director	$0	$0	$188,236
MICHAEL PORTER	TRUSTEE	1.00	Director	$0	$0	$151,869
BRIAN TANSEY	TRUSTEE	1.00	Director	$0	$0	$141,963
JOSHUA WRIGHT	VICE CHAIR	1.00	Officer Director	$0	$0	$137,268

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	$1,023,739	$538,717	$17,779,523	$485,022
2023	$827,729	$541,371	$13,685,673	$286,358
2022	$851,953	$429,315	$11,738,659	$422,638
2021	$794,194	$388,493	$14,338,010	$405,701
2020	$719,129	$359,695	$11,434,601	$359,434
2019	$709,100	$319,689	$9,937,542	$389,411
2018	$623,946	$283,877	$9,398,771	$340,069

IONA MCGREGOR RETIREE INS TR FUND