SURPLUS LINES ASSOCIATION OF MN (EIN 263613284) - 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

2008

Legal Domicile

Principal Officer

JENNIFER LARSEN

Phone

3206794244

Tax Period

2024-01-01 to 2024-12-31

SURPLUS LINES ASSOCIATION OF MN, founded in 2008, is a small nonprofit in the Community Improvement sector that reported $701K in total revenue in fiscal year 2024. Revenue surged 32% from the prior year, signaling strong growth momentum. The organization ran a surplus of $390K, a strong 56% operating margin.

Mission

TO EDUCATE, ASSIST AND ADVISE OVER 1,450 MEMBER SURPLUS LINES LICENSEES ON SURPLUS LINES INSURANCE PROCEDURES IN THE STATE OF MINNESOTA.

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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 $650,003

Investment Income $50,584

Other Revenue $0

TOTAL REVENUE $700,587

Expense Breakdown

Grants Paid $30,000

Salaries & Benefits $161,350

Fundraising Expenses $0

Other Expenses $118,841

TOTAL EXPENSES $310,191

Year-over-Year Comparison

	2024	2023	Change
Revenue	$700,587	$532,749	+0.3%
Expenses	$310,191	$289,002	+0.1%
Net Income	$390,396	$243,747	+0.6%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NICHOLAS SCHROEDER	EXECUTIVE DI	40.00	Highest	$135,050	$0	$135,050
KEN COOKSEY	DIRECTOR	2.00	Director	$0	$0	$0
JEFF KUHA	DEPT REVENUE	2.00	Director	$0	$0	$0
CHRIS MARTIN	DIRECTOR	2.00	Director	$0	$0	$0
KATHLEEN ORTH	MN DEPARTMEN	2.00	Director	$0	$0	$0
KATHY GALLAGHER-BURTON	SECRETARY/ T	5.00	Officer	$0	$0	$0
JENNIFER LARSEN	CHAIRPERSON	5.00	Officer	$0	$0	$0
TOM O'DONNELL	VICE CHAIR	2.00	Officer	$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	$700,587	$310,191	$2,371,130	$390,396
2023	$532,749	$289,002	$1,981,113	$243,747
2022	$501,263	$228,958	$1,736,496	$272,305
2021	$348,169	$222,558	$1,463,778	$125,611
2020	$295,340	$221,685	$1,337,894	$73,655
2019	$266,830	$216,963	$1,265,438	$49,867
2018	$214,444	$229,592	$1,215,738	$-15,148

SURPLUS LINES ASSOCIATION OF MN