ILLINOIS FAIR PLAN ASSOCIATION

EIN: 362688813

TINLEY PARK, IL

Total Revenue
$4,986,878
Total Expenses
$3,931,061
Total Assets
$11,326,529
Net Assets
$6,350,468
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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
IL
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 $5.0M in total revenue in fiscal year 2024. Revenue surged 20% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.1M, a strong 21% operating margin.

Mission

TO PROVIDE BASIC AND AFFORDABLE PROPERTY INSURANCE TO APPLICANTS IN THE STATE OF ILLINOIS WHO ARE UNABLE TO PURCHASE COVERAGE THROUGH THE STANDARD INSURANCE MARKET FOR REASONS BEYOND THEIR CONTROL.

Program Service Accomplishments

Program 1

UNDER ILLINOIS STATE STATUE, THE ASSOCIATION PROVIDES FIRE, HOMEOWNERS, EXTENDED COVERAGE, VANDALISM, AND MALICIOUS MISCHIEF INSURANCE FOR STATE RESIDENTS WHO HAVE BEEN UNABLE TO OBTAIN THESE TYPES...

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UNDER ILLINOIS STATE STATUE, THE ASSOCIATION PROVIDES FIRE, HOMEOWNERS, EXTENDED COVERAGE, VANDALISM, AND MALICIOUS MISCHIEF INSURANCE FOR STATE RESIDENTS WHO HAVE BEEN UNABLE TO OBTAIN THESE TYPES OF INSURANCE IN THE VOLUNTARY 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%)

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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

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Governance

Voting Members
10
Independent Members
10
Employees
5
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
$331,491
Total Directors
11
$44,800
Key Employees
0
$0
Highest Compensated
1
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
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