ILLINOIS FAIR PLAN ASSOCIATION (EIN 362688813) - 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

1968

Legal Domicile

Principal Officer

JOSEPH A HATHAWAY

Phone

3128810385

Tax Period

2024-12-01 to 2025-11-30

ILLINOIS FAIR PLAN ASSOCIATION, founded in 1968, is a community nonprofit that reported $4.8M in total revenue in fiscal year 2017. Revenue decreased 16% compared to the prior year. Expenses of $5.7M exceeded revenue, resulting in a 20% operating deficit.

Mission

TO PROVIDE BASIC AND AFFORDABLE PROPERTY INSURANCE TO APPLICANTS IN ILLINOIS (SEE SCHEDULE O)WHO ARE UNABLE TO PURCHASE COVERAGE THROUGH THE STANDARD INSURANCE MARKET.

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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 $4,573,659

Investment Income $381,363

Other Revenue $31,856

TOTAL REVENUE $4,986,878

Expense Breakdown

Grants Paid $10,000

Salaries & Benefits $830,536

Fundraising Expenses $0

Other Expenses $3,090,525

TOTAL EXPENSES $3,931,061

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,986,878	$4,154,341	+0.2%
Expenses	$3,931,061	$4,162,240	-0.1%
Net Income	$1,055,817	$-7,899	-134.7%

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

$331,491

Total Directors

$44,800

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KENNETH DEVRIES	CHAIR	2.00	Officer Director	$8,800	$0	$8,800
KIMBERLY BURNELL	VICE-CHAIR	2.00	Officer Director	$0	$0	$0
ERIC HAMMONS	SECRETARY	1.00	Officer Director	$0	$0	$0
ANDY JONES	DIRECTOR	1.00	Director	$0	$0	$0
CHARLES HILL SR	DIRECTOR	2.00	Director	$8,800	$0	$8,800
MICHAEL STARON	DIRECTOR	1.00	Director	$0	$0	$0
R JOY ARUGUETE	DIRECTOR	2.00	Director	$8,800	$0	$8,800
THOMAS DAMMRICH	DIRECTOR	1.00	Director	$4,000	$0	$4,000
KEVIN SPORLEDER	DIRECTOR	1.00	Director	$0	$0	$0
GREG WHITEHEAD	DIRECTOR	1.00	Director	$4,000	$0	$4,000
REBECCA KORACH WOAN	DIRECTOR	2.00	Director	$10,400	$0	$10,400
JOSEPH HATHAWAY	PRESIDENT	37.50	Officer	$236,024	$86,667	$322,691
PAUL ROGERS	CLAIMS MANAGER	37.50	Highest	$106,702	$61,543	$168,245

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	$4,986,878	$3,931,061	$11,326,529	$1,055,817
2024	$4,154,341	$4,162,240	$10,092,992	$-7,899
2023	$3,408,741	$6,277,157	$9,509,849	$-2,868,416
2022	$3,165,384	$3,991,458	$9,317,772	$-826,074
2021	$3,298,131	$3,712,262	$8,987,305	$-414,131
2020	$3,717,114	$5,175,926	$8,710,671	$-1,458,812
2019	$4,190,918	$4,749,454	$3,648,403	$-558,536
2018	$4,769,020	$5,718,907	$4,539,368	$-949,887

ILLINOIS FAIR PLAN ASSOCIATION