Insurance Council of Texas Group I… - 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

1967

Legal Domicile

Principal Officer

Paula Harmon

Phone

5124449611

Tax Period

2023-01-01 to 2023-12-31

Insurance Council of Texas Group Insurance Plan, founded in 1967, is a small nonprofit in the Mutual Benefit sector that reported $597K in total revenue in fiscal year 2023.

Mission

Its mission is to provide health insurance including medical, dental, life and disability coverage to employees, retirees and their dependents of the Insurance Council of Texas.

Program Service Accomplishments

Program 1

Expenses: $598,144

This organization is an IRC Section 501c9 voluntary employee benefit association VEBA. It provides health insurance including medical, dental, life and disability coverage to employees and retirees...

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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 $570,538

Investment Income $26,325

Other Revenue $0

TOTAL REVENUE $596,863

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $598,144

Other Expenses $601,800

TOTAL EXPENSES $601,800

Year-over-Year Comparison

	2023	2022	Change
Revenue	$596,863	$616,128	0.0%
Expenses	$601,800	$566,089	+0.1%
Net Income	$-4,937	$50,039	-1.1%

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
Paula Harmon	Trustee	002.00	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
2024	No data	No data	No data	No data
2023	$596,863	$601,800	$702,516	$-4,937
2022	$616,128	$566,089	$707,453	$50,039
2021	$615,054	$657,883	$657,414	$-42,829
2020	$665,698	$704,775	$715,339	$-39,077

Insurance Council of Texas Group Insurance Plan