NATIONAL ASSOCIATION OF MUTUAL INS… - Form 990 Financial Data

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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

1919

Legal Domicile

Principal Officer

NEIL ALLDREDGE

Phone

3178755250

Tax Period

2023-01-01 to 2023-12-31

NATIONAL ASSOCIATION OF MUTUAL INSURANCE COMPANIES INC, founded in 1919, is a mid-sized nonprofit that reported $22.6M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion.

Mission

NAMIC ORGANIZES AND LEADS ASSOCIATION MEMBER EFFORTS TO IMPROVE THE HEALTH AND PERFORMANCE OF THE PROPERTY CASUALTY INSURANCE THROUGH ITS GOVERNMENT AFFAIRS (ADVOCACY, LOBBYING, ISSUE MANAGEMENT, PUBLIC AFFAIRS, AND FEDERAL AND STATE GRASSROOTS EFFORTS INCLUDING POLITICAL ACTION); EDUCATION/CERTIFICATION (BOARD, EXECUTIVE, MANAGEMENT; TECHNICAL); AND INSURANCE BUSINESS SUPPORT SERVICES (PROFESSIONAL LIABILITY INSURANCE, COMPLIANCE, AND EMPLOYEE BENEFIT PROGRAMS). NAMIC'S EFFORTS ARE DIRECTED THROUGH ITS 501(C)6 PARENT ORGANIZATION AND WITHIN RELATED SUBSIDIARIES AND OTHER ENTITIES AS DESCRIBED HEREIN.

Program Service Accomplishments

Program 1

GOVERNMENT AFFAIRS/ADVOCACY - NAMIC LEADS MEMBER EFFORTS IN THIS AREA THROUGH ITS FEDERAL, STATE AND INTERNATIONAL GOVERNMENT AND PUBLIC AFFAIRS ACTIVITY (ISSUE RESEARCH/MANAGEMENT, ADVOCACY...

GOVERNMENT AFFAIRS/ADVOCACY - NAMIC LEADS MEMBER EFFORTS IN THIS AREA THROUGH ITS FEDERAL, STATE AND INTERNATIONAL GOVERNMENT AND PUBLIC AFFAIRS ACTIVITY (ISSUE RESEARCH/MANAGEMENT, ADVOCACY, LOBBYING); CONGRESSIONAL CONTACT AND POLITICAL ACTION PROGRAMS, JOINT INDUSTRY OR INDIVIDUAL ADVOCACY PROJECT EFFORTS, ONGOING COMMUNICATION AND EDUCATION ON RELEVANT PUBLIC POLICY ISSUES AND RELATED ENTITY SUPPORT AND OVERSIGHT.

Program 2

EDUCATION AND CERTIFICATION - NAMIC DEVELOPS, ORGANIZES AND CONDUCTS IN- PERSON AND VIRTUAL INDUSTRY/MEMBER EDUCATION AND EVENT PROGRAMS ADDRESSING INSURANCE COMPANY OPERATIONS (UNDERWRITING, CLAIMS, MARKETING), GOVERNANCE, AND GENERAL/EXECUTIVE MANAGEMENT INVOLVING MORE THAN 7,500 PARTICIPANTS ANNUALLY. NAMIC ALSO PROVIDES PROGRAMMING AND ADMINISTRATION OF TWO CERTIFICATION PROGRAMS FOR MEMBER COMPANY BOARDS OF DIRECTORS AND COMPANY MANAGERS INVOLVING MORE THAN 1,200 INDIVIDUALS SEEKING OR HOLDING CERTIFICATIONS. NAMIC PLANS AND MANAGES AN ANNUAL CONVENTION ATTENDED BY MORE THAN 1,500 BUSINESS ATTENDEES AND EXHIBITORS.

Program 3

INSURANCE SUPPORT SERVICES - NAMIC OVERSEES THE DEVELOPMENT AND PRODUCTION OF HIGH VALUE PRODUCTS AND SERVICES TO ITS MEMBERS AND OTHER INSURANCE ENTITIES, INCLUDING PROFESSIONAL LIABILITY INSURANCE (D&O, ICPL, AND FIDELITY); MANAGEMENT SERVICES; LEGISLATION AND COMPLIANCE TRACKING SERVICES; BENCHMARKING; AND BENEFIT PROGRAMS FOR MEMBER COMPANY EMPLOYEES.

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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 $22,377,993

Investment Income $172,580

Other Revenue $77,793

TOTAL REVENUE $22,628,366

Expense Breakdown

Grants Paid $0

Salaries & Benefits $13,081,295

Fundraising Expenses $0

Other Expenses $9,007,817

TOTAL EXPENSES $22,089,112

Year-over-Year Comparison

	2023	2022	Change
Revenue	$22,628,366	$20,704,238	+0.1%
Expenses	$22,089,112	$19,291,019	+0.1%
Net Income	$539,254	$1,413,219	-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

110

Volunteers

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

$2,288,510

Total Directors

Key Employees

$931,508

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NEIL ALLDREDGE	PRESIDENT &	25.00	Officer	$744,027	$59,725	$1,204,382
JIMI GRANDE	SVP - FEDERA	39.00	Key Emp	$527,048	$44,061	$571,109
MARK VANDER KOOY	CSO	29.00	Officer	$319,351	$43,262	$469,063
GREGG A DYKSTRA	COO & CLO	25.00	Officer	$261,542	$35,283	$437,655
ERIN COLLINS	SVP - STATE	40.00	Highest	$346,297	$39,080	$385,377
SARAH SCHNETTLER	SVP - MEMBER	39.00	Highest	$339,325	$41,231	$380,556
JENNIFER HAMILTON	PRES. & CEO	1.50	Key Emp	$0	$21,558	$360,399
ANDREW KIRKNER	GENERAL COUN	27.00	Highest	$187,189	$23,822	$311,805
THOMAS KAROL	GENERAL COUN	40.00	Highest	$235,555	$13,758	$249,313
CRISTA HASSETT	SVP - EVENTS	39.00	Highest	$223,757	$21,672	$245,429
SHANNON OLLIKAINEN	CHIEF OF STA	26.00	Officer	$94,514	$32,003	$177,410
MATT BENEDICT	DIRECTOR	1.50	Director	$0	$0	$0
JACOB BLACK	IMMED PAST C	1.00	Director	$0	$0	$0
CHRIS BROWN	DIRECTOR	1.50	Director	$0	$0	$0
BRAD FORTNER	DIRECTOR	1.50	Director	$0	$0	$0
DAVID GAUTSCHE	DIRECTOR	1.50	Director	$0	$0	$0
ANDY GERLACH	DIRECTOR	1.50	Director	$0	$0	$0
ELIZABETH HECK	CHAIRMAN	1.00	Officer Director	$0	$0	$0
WENSLEY HERBERT	DIRECTOR	1.50	Director	$0	$0	$0
JEFFERY HOWELL	DIRECTOR	1.50	Director	$0	$0	$0
FRED EDMOND JR	DIRECTOR	1.50	Director	$0	$0	$0
TIM KOPPENHAVER	DIRECTOR	1.50	Director	$0	$0	$0
STEVEN LINKOUS	PAST TREASUR	1.00	Director	$0	$0	$0
LISA LOTT	DIRECTOR	1.50	Director	$0	$0	$0
TRICIA MICKLEY	TREASURER	1.00	Director	$0	$0	$0
KEVIN MOSLEY	DIRECTOR	1.50	Director	$0	$0	$0
JOEL MURRAY	DIRECTOR	1.50	Director	$0	$0	$0
RANDA RAWLINS	DIRECTOR	1.50	Director	$0	$0	$0
MARK RUSSELL	CHAIR-ELECT	1.00	Director	$0	$0	$0
RONALD RUTLEDGE	DIRECTOR	1.50	Director	$0	$0	$0
KENT SHANTZ	DIRECTOR	1.50	Director	$0	$0	$0
JESSIE STAUFFACHER	DIRECTOR	1.50	Director	$0	$0	$0
STEVE STOGNER	DIRECTOR	1.50	Director	$0	$0	$0
PAUL STUEVEN	SECRETARY	1.00	Director	$0	$0	$0
SUSAN TAGGART	DIRECTOR	1.50	Director	$0	$0	$0
MARK WALZ	VICE CHAIR	1.00	Director	$0	$0	$0
JIM WELLMAN	DIRECTOR	1.50	Director	$0	$0	$0
JEFF WROBEL	DIRECTOR	1.50	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
2024	No data	No data	No data	No data
2023	$22,628,366	$22,089,112	$24,043,020	$539,254
2022	$20,704,238	$19,291,019	$22,000,768	$1,413,219
2021	$18,221,926	$16,504,643	$18,221,842	$1,717,283
2020	$16,167,316	$14,572,365	$16,257,414	$1,594,951
2019	$17,856,023	$17,513,168	$16,374,376	$342,855
2018	$17,185,473	$16,721,788	$15,442,692	$463,685

NATIONAL ASSOCIATION OF MUTUAL INSURANCE COMPANIES INC