Insurance Security Fund (EIN 237365644) - 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

1969

Legal Domicile

Principal Officer

Allan Patek

Phone

6082429473

Tax Period

2023-01-01 to 2023-12-31

Insurance Security Fund, founded in 1969, is a community nonprofit that reported $2.8M in total revenue in fiscal year 2023. Revenue fell 75% from the prior year — a significant decline worth monitoring. Expenses of $4.2M exceeded revenue, resulting in a 50% operating deficit.

Mission

The Insurance Security Fund has one mission, accomplished through one program to maintain public confidence in the promises of insurers by providing a mechanism for protecting insureds from loss in the event of liquidati

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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 $2,164,653

Investment Income $643,479

Other Revenue $0

TOTAL REVENUE $2,808,132

Expense Breakdown

Grants Paid $0

Salaries & Benefits $618,151

Fundraising Expenses $0

Other Expenses $825,337

TOTAL EXPENSES $4,209,454

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,808,132	$11,161,713	-0.7%
Expenses	$4,209,454	$3,674,439	+0.1%
Net Income	$-1,401,322	$7,487,274	-1.2%

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

$229,977

Total Directors

Key Employees

$135,139

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Allan Patek	Executive Director	040.00	Officer Highest	$229,977	$0	$229,977
Theresa Wedekind	Associate Director Operations Finance	040.00	Key Emp	$135,139	$0	$135,139
Bryce Tolefree Board Member	American Family Insurance, Madison WI	001.00	Director	$0	$0	$0
Nathan Houdek Board Member	Commissioner of Insurance, Madison WI	001.00	Director	$0	$0	$0
Joseph Decker Board Member	QBE, Sun Prairie WI	001.00	Director	$0	$0	$0
Heather Boyer Board Member	Society Insurance, Fond du Lac, WI	001.00	Director	$0	$0	$0
George E Burleton II Board Member	Humana, Green Bay WI	001.00	Director	$0	$0	$0
Peter Farrow Board Member	Group Health Cooperative, Eau Claire WI	001.00	Director	$0	$0	$0
John Wesley Warren Board Member	Northwestern Mutual Life Ins, Milwaukee WI	001.00	Director	$0	$0	$0
John Leiber Board Member	WI State Treasurer, Madison WI	001.00	Director	$0	$0	$0
Sharon Hartung Board Member	WPS, Madison WI	001.00	Director	$0	$0	$0
Gwendolyn Cooley Board Member	Assistant Attorney General, Madison WI	001.00	Director	$0	$0	$0
Dawn Lemke Board Member	Church Mutual Ins, Merrill WI	001.00	Director	$0	$0	$0
Christine Senty Board Member	Quartz, Sauk City WI	001.00	Director	$0	$0	$0
Michael Tobin Board Member	New York Life Ins Co, New York NY	001.00	Director	$0	$0	$0
Raina Zanow Chair	Sentry Insurance, Stevens Point WI	001.00	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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$2,808,132	$4,209,454	$35,776,005	$-1,401,322
2022	$11,161,713	$3,674,439	$37,173,342	$7,487,274
2021	$2,997,173	$4,542,895	$29,675,597	$-1,545,722
2020	$1,904,522	$3,435,530	$31,205,260	$-1,531,008

Insurance Security Fund