Independent Insurance Agents of NJ (EIN 221151205) - 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

1893

Legal Domicile

Principal Officer

Michael L Razze

Phone

6095874333

Tax Period

2024-09-01 to 2025-08-31

Independent Insurance Agents of NJ, founded in 1893, is a community nonprofit that reported $1.9M in total revenue in fiscal year 2024. Revenue surged 43% from the prior year, signaling strong growth momentum. The organization ran a surplus of $348K, a strong 19% operating margin.

Mission

The Independent Insurance Agents of New Jersey was founded to promote and uphold the principles and practices of the American Independent Insurance Agency system and advance the independent insurance agency system through advocacy and professionalism while supporting member success in serving our communities with excellence.

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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 $651,928

Investment Income $660,367

Other Revenue $565,582

TOTAL REVENUE $1,877,877

Expense Breakdown

Grants Paid $0

Salaries & Benefits $635,991

Fundraising Expenses $0

Program Expenses $458,224

Other Expenses $893,809

TOTAL EXPENSES $1,529,800

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,877,877	$1,313,379	+0.4%
Expenses	$1,529,800	$1,435,486	+0.1%
Net Income	$348,077	$-122,107	-3.9%

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

$160,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Christopher P O'Neill	Chairman	1.00	Officer Director	$0	$0	$0
Kristin Ryan	Vice Chairman/Treasurer	1.00	Officer Director	$0	$0	$0
Gerald F Ford III	National Director	1.00	Officer Director	$0	$0	$0
Harold W Soden Jr	Immediate Past Chairman	0.00	Officer Director	$0	$0	$0
Jeff Wyrsch	Director	0.00	Director	$0	$0	$0
David J Strout Jr	Director	0.00	Director	$0	$0	$0
Robert D Hess	Director	0.00	Director	$0	$0	$0
Leland S Stanford	Director	0.00	Director	$0	$0	$0
Scott Caughlan	Director	0.00	Director	$0	$0	$0
Jacki Frank	Director	0.00	Director	$0	$0	$0
Matthew Hill	Director	0.00	Director	$0	$0	$0
Ramiro Martinez-Anillo	Director	0.00	Director	$0	$0	$0
Jamie Nielsen	Director	0.00	Director	$0	$0	$0
Annmarie Westerfield	Director	0.00	Director	$0	$0	$0
George Zelhof	Director	0.00	Director	$0	$0	$0
Kevin Shannon	Director	0.00	Director	$0	$0	$0
Glen Watkins	Director	0.00	Director	$0	$0	$0
Alicia Pierson	Director	0.00	Director	$0	$0	$0
Michael L Razze Jr	President & CEO	40.00	Officer	$160,000	$0	$160,000

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	$1,877,877	$1,529,800	$4,460,816	$348,077
2024	$1,313,379	$1,435,486	$4,112,739	$-122,107
2023	$1,168,936	$1,405,829	$4,234,846	$-236,893
2022	$772,064	$1,235,326	$4,471,739	$-463,262
2021	$2,227,761	$1,218,510	$4,938,957	$1,009,251
2020	$1,240,704	$1,374,810	$3,929,706	$-134,106

Independent Insurance Agents of NJ