SURPLUS LINE ASSOCIATION OF ILLINOIS

EIN: 363360838

CHICAGO, IL

Total Revenue
$2,540,472
Total Expenses
$3,320,435
Total Assets
$7,094,092
Net Assets
$7,094,092
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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
1985
Legal Domicile
IL
Principal Officer
PAT MULDOWNEY
Phone
3122631993
Tax Period
2025-01-01 to 2025-12-31

SURPLUS LINE ASSOCIATION OF ILLINOIS, founded in 1985, is a community nonprofit that reported $2.5M in total revenue in fiscal year 2025. Expenses of $3.3M exceeded revenue, resulting in a 31% operating deficit.

Mission

SURPLUS LINE ASSOCIATION OF ILLINOIS WAS CREATED BY PUBLIC ACT 83-1300 OF THE ILLINOIS LEGISLATURE TO SERVE AS A LIAISON BETWEEN THE STATE AND SURPLUS LINE LICENSEES FOR THE PURPOSE OF REPORTING TO THE STATE OF ILLINOIS. THE ASSOCIATION DERIVES ITS REVENUE PRINCIPALLY THROUGH STAMPING FEES.

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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 (2025)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $2,193,224
Investment Income $347,248
Other Revenue $0
TOTAL REVENUE $2,540,472

Expense Breakdown

Grants Paid $60,000
Salaries & Benefits $2,374,620
Fundraising Expenses $0
Other Expenses $885,815
TOTAL EXPENSES $3,320,435

Year-over-Year Comparison

2025 2024 Change
Revenue $2,540,472 $2,510,155 +0.0%
Expenses $3,320,435 $2,986,592 +0.1%
Net Income $-779,963 $-476,437 +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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Governance

Voting Members
9
Independent Members
9
Employees
10
Volunteers
9

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
6
$566,493
Total Directors
10
$0
Key Employees
1
$341,490
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CRAIG W HOWSER DIRECTOR 1.00
Director
$0 $0 $0
PATRICK MULDOWNEY CHAIR 1.00
Officer Director
$0 $0 $0
RODNEY NUBIN VICE-CHAIR 1.00
Officer Director
$0 $0 $0
DONNY ALBERICO JR SECRETARY (LEFT 5/25) 1.00
Officer Director
$0 $0 $0
CHRISTOPHER T GADDIS DIRECTOR 0.50
Director
$0 $0 $0
THOMAS J LEVIN DIRECTOR 1.00
Director
$0 $0 $0
DENNIS NEVINSKI JR SECRETARY 0.50
Officer Director
$0 $0 $0
RACHEL M PIGNOTTI TREASURER 0.50
Officer Director
$0 $0 $0
STEPHEN BEARD DIRECTOR 0.50
Director
$0 $0 $0
JENNIFER FRASER DIRECTOR (STARTED 5/25) 1.00
Director
$0 $0 $0
DAVID L OCASEK CHIEF EXECUTIVE OFFICER 40.00
Officer
$371,004 $195,489 $566,493
RICHARD J DUNLAP DIR. OF FINANCE & ADMINIST 40.00
Key Emp
$217,744 $123,746 $341,490
JOSEPH GOYSICH IT MANAGER 40.00
Highest
$138,467 $93,401 $231,868
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 $2,540,472 $3,320,435 $7,094,092 $-779,963
2024 $2,510,155 $2,986,592 $7,874,055 $-476,437
2023 $2,243,452 $2,941,237 $8,350,492 $-697,785
2022 $3,089,072 $2,418,837 $9,048,277 $670,235
2021 $2,445,433 $2,205,207 $8,378,042 $240,226
2020 $1,857,830 $2,193,110 $8,137,816 $-335,280
2019 $1,979,578 $2,139,758 $8,473,096 $-160,180
2018 $2,527,231 $2,027,360 $8,633,276 $499,871
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