INSURANCE BOARD OF NORTHERN OHIO

EIN: 341967314 Community Improvement

INDEPENDENCE, OH

Total Revenue
$50,421
Total Expenses
$34,549
Total Assets
$58,585
Net Assets
$58,585
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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
2001
Legal Domicile
OH
Principal Officer
TIMOTHY HROBAT
Phone
2165242007
Tax Period
2024-09-01 to 2025-08-31

INSURANCE BOARD OF NORTHERN OHIO, founded in 2001, is a micro nonprofit in the Community Improvement sector that reported $50K in total revenue in fiscal year 2024. Revenue surged 23% from the prior year, signaling strong growth momentum. The organization ran a surplus of $16K, a strong 31% operating margin.

Mission

EDUCATION PROGRAMS & INSURANCE PROGRAMS FOR MEMBERS TO EDUCATE THEM ABOUT THE LATEST DEVELOPMENTS IN THE FIELD AS WELL AS ASSISTING IN LICENSING REQUIREMENTS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $10,381
Program Service Revenue $30,024
Investment Income $0
Other Revenue $10,016
TOTAL REVENUE $50,421

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $27,187
Other Expenses $34,549
TOTAL EXPENSES $34,549

Year-over-Year Comparison

2024 2023 Change
Revenue $50,421 $40,943 +0.2%
Expenses $34,549 $22,361 +0.5%
Net Income $15,872 $18,582 -0.1%
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

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Governance

Voting Members
12
Independent Members
12
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
4
$0
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
NICHOLAS PLOCEK PRESIDENT 0.50
Officer
$0 $0 $0
JOHN HORVATH PAST PRESIDE 0.50
Officer
$0 $0 $0
MARIE CURTIS SECRETARY 0.50
Officer
$0 $0 $0
TIMOTHY HROBAT TREASURER 0.50
Officer
$0 $0 $0
TANYA ADOLSEN VICE PRESIDE 0.50
Director
$0 $0 $0
MICHAEL BODNAR TRUSTEE 0.50
Director
$0 $0 $0
JACKIE GRINGLE TRUSTEE 0.50
Director
$0 $0 $0
ROBERT SLOWEY TRUSTEE 0.50
Director
$0 $0 $0
DAVID KELLER TRUSTEE 0.50
Director
$0 $0 $0
CONNOR EVANS TRUSTEE 0.50
Director
$0 $0 $0
JOSEPH SPOONER TRUSTEE 0.50
Director
$0 $0 $0
NICOLETTE THOMAS TRUSTEE 0.50
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 $50,421 $34,549 $58,585 $15,872
2024 $40,943 $22,361 $42,713 $18,582
2023 $33,522 $36,864 $24,131 $-3,342
2022 $39,032 $72,467 $27,473 $-33,435
2021 $16,821 $35,002 $64,795 $-18,181
2020 $35,695 $70,060 $85,548 $-34,365
2019 $91,221 $102,129 $116,896 $-10,908
2018 $88,647 $103,847 $123,487 $-15,200
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