TENNESSEE INSURANCE GUARANTY ASSOCIATION (EIN 237182287) - 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

1973

Legal Domicile

Principal Officer

LORRIE BROUSE

Phone

6152426839

Tax Period

2024-01-01 to 2024-12-31

TENNESSEE INSURANCE GUARANTY ASSOCIATION, founded in 1973, is a community nonprofit that reported $6.6M in total revenue in fiscal year 2024. Expenses of $8.1M exceeded revenue, resulting in a 24% operating deficit.

Mission

TO OPERATE A PROPERTY AND CASUALTY SELF ASSESSMENT GUARANTY FUND AS DIRECTED UNDER TENNESSEE STATUTE (SEE T.C.A. 56-12-101 ET SEQ.).

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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 $891,617

Investment Income $5,681,262

Other Revenue $0

TOTAL REVENUE $6,572,879

Expense Breakdown

Grants Paid $0

Salaries & Benefits $805,206

Fundraising Expenses $0

Program Expenses $6,123,302

Other Expenses $7,344,178

TOTAL EXPENSES $8,149,384

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,572,879	$6,316,558	+0.0%
Expenses	$8,149,384	$4,874,129	+0.7%
Net Income	$-1,576,505	$1,442,429	-2.1%

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

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

$169,500

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN MIZE	CHAIRMAN	2.00	Director	$0	$0	$0
SHAWN JOHNSON	BOARD MEMBER	2.00	Director	$0	$0	$0
LISA PIERCE	BOARD MEMBER	2.00	Director	$0	$0	$0
EDWARD LANCASTER	BOARD MEMBER	2.00	Director	$0	$0	$0
TRACEY GENTRY HARNEY	BOARD MEMBER	1.00	Director	$0	$0	$0
LORRIE BROUSE	EXEC. SECRETARY	27.00	Officer	$169,500	$0	$169,500
KERRY NATIONS	ADMINISTRATOR	45.00	Highest	$139,009	$0	$139,009
BETH ANN DUFUR	CLAIM MANAGER	45.00	Highest	$110,010	$0	$110,010

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	$6,572,879	$8,149,384	$172,952,787	$-1,576,505
2023	$6,316,558	$4,874,129	$171,163,342	$1,442,429
2022	$5,456,137	$4,652,517	$163,937,561	$803,620
2021	$10,389,316	$4,530,933	$174,263,578	$5,858,383
2020	$4,546,849	$5,290,700	$171,858,547	$-743,851
2019	$39,838,506	$5,364,306	$171,282,798	$34,474,200
2018	$4,428,177	$7,366,509	$133,488,441	$-2,938,332

TENNESSEE INSURANCE GUARANTY ASSOCIATION