VIRGINIA PROPERTY INSURANCE ASSN (EIN 237097511) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1968

Legal Domicile

Principal Officer

SUSAN TINSLEY

Phone

8045913700

Tax Period

2024-10-01 to 2025-09-30

VIRGINIA PROPERTY INSURANCE ASSOCIATION, founded in 1968, is a mid-sized nonprofit that reported $17.8M in total revenue in fiscal year 2017. Expenses of $16.9M left a modest 5% surplus.

Mission

The Virginia Property Insurance Association (VPIA or "the Association") was established by the Virginia State Corporation Commission for the purpose of Administering a program of equitable distribution and placement of basic property insurance in compliance with the urban property protection and reinsurance act of 1968. The program became effective on July 26, 1968, as the Virginia Insurance Placement Facility and was reorganized as VPIA October 1, 1973. VPIA issues policies on behalf of its members who bear the direct risk on a pro-rata basis. VPIA is responsible for the collection of premiums, payment of commissions, losses and loss adjustment expenses, and also general administrative expenses. Assessments are made on participating companies for funds as they are needed.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $21,040,474

Investment Income $1,276,523

Other Revenue $0

TOTAL REVENUE $22,316,997

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,177,046

Fundraising Expenses $0

Program Expenses $9,475,270

Other Expenses $4,648,633

TOTAL EXPENSES $11,991,601

Year-over-Year Comparison

	2024	2023	Change
Revenue	$22,316,997	$18,140,758	+0.2%
Expenses	$11,991,601	$19,202,869	-0.4%
Net Income	$10,325,396	$-1,062,111	-10.7%

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

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

$227,230

Total Directors

$227,230

Key Employees

$158,566

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Ms Susan M Tinsley CPCU	General Manager and Secretary	50	Officer Director	$227,230	$0	$227,230
Ms Kelly Biester	Assistant Manager	50.00	Key Emp	$158,566	$0	$158,566
Mr David Bonenfant CPCU ChFC CLU	Chairman	0.8	Director	$0	$0	$0
Ms Nicole Sportiello	Board Member	0.8	Director	$0	$0	$0
Mr Conleth Kennedy	Vice Chairman	0.8	Director	$0	$0	$0
Ms Betty Wooldridge	Board Member	0.8	Director	$0	$0	$0
Mr Noland Deas	Board Member	0.80	Director	$0	$0	$0
Ms Robee Berry	Board Member	0.8	Director	$0	$0	$0
Mr Karl Eckhardt	Board Member	0.8	Director	$0	$0	$0
Mr Shane Badon	Board Member	0.8	Director	$0	$0	$0
Mr Matt Hudnell	Board Member	0.8	Director	$0	$0	$0
Mr Matt Youngsma	Board Member	0.8	Director	$0	$0	$0
Mr Chad Harvel	Board Member	0.8	Director	$0	$0	$0
Mr Scott DeNoon	Board Member	0.8	Director	$0	$0	$0
Ms Edith Mason	Alternate Board Member	0.8	Director	$0	$0	$0
Mr Tom Mathes	Alternate Board Member	0.8	Director	$0	$0	$0
Ms Melanie Hartwell	Alternate Board Member	0.8	Director	$0	$0	$0
Mr Peter Maercklein	Alternate Board Member	0.8	Director	$0	$0	$0
Ms Cheryl Watts	Alternate Board Member	0.8	Director	$0	$0	$0
Mr Kenneth Jarvis	Alternate Board Member	0.8	Director	$0	$0	$0
Mr Eddie Redfearn	Agent Board Member	0.8	Director	$0	$0	$0
Ms Carla Marks	Agent Board Member	0.8	Director	$0	$0	$0
Mr James Stacia	Public Board Member	0.8	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	$22,316,997	$11,991,601	$38,193,703	$10,325,396
2024	$18,140,758	$19,202,869	$30,357,904	$-1,062,111
2023	$15,058,529	$14,685,084	$27,761,567	$373,445
2022	$14,542,015	$13,739,599	$26,208,829	$802,416
2021	$15,500,707	$15,955,167	$35,925,018	$-454,460
2020	$17,079,029	$15,919,655	$36,304,642	$1,159,374
2019	$17,749,642	$14,111,320	$35,470,201	$3,638,322
2018	$17,756,469	$16,936,563	$34,652,776	$819,906

VIRGINIA PROPERTY INSURANCE ASSN