SURPLUS LINE ASSOCIATION OF ILLINO… - 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

1985

Legal Domicile

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.

Program Service Accomplishments

Program 1

RECEIVE, RECORD AND COUNTERSIGN ALL SURPLUS LINE INSURANCE CONTRACTS THAT SURPLUS LINE PRODUCERS ARE REQUIRED TO FILE WITH THE ASSOCIATION UNDER SUBSECTION (5) OF 215 ILCS 5/445 OF THE ILLINOIS...

RECEIVE, RECORD AND COUNTERSIGN ALL SURPLUS LINE INSURANCE CONTRACTS THAT SURPLUS LINE PRODUCERS ARE REQUIRED TO FILE WITH THE ASSOCIATION UNDER SUBSECTION (5) OF 215 ILCS 5/445 OF THE ILLINOIS STATUTES. RECEIVE AND RECORD ALL UNAUTHORIZED INSURER CONTRACTS THAT INDUSTRIAL INSUREDS ARE REQUIRED TO FILE WITH THE ASSOCIATION UNDER 215 ILCS 5/121.2-08 OF THE ILLINOIS STATUTES. IN 2025, 223,923 DOCUMENTS WERE PROCESSED.

Program 2

PREPARE AND DELIVER TO EACH LICENSEE AND THE DIRECTOR OF INSURANCE THE REPORTS OF SURPLUS LINE BUSINESS PRESCRIBED IN SUBSECTION (5) OF 215 ILCS 5/445 OF THE ILLINOIS STATUTES. ONE REPORT PER MONTH FOR A MEMBERSHIP OF 1,998 AS OF DECEMBER 31, 2025.PREPARE SURPLUS LINE TAX STATEMENTS AND FIRE MARSHAL TAX STATEMENTS FOR ALL LICENSEES. ONE OF EACH TAX STATEMENT WAS PREPARED FOR A MEMBERSHIP LICENSEE POPULATION OF 4,267 AS OF DECEMBER 31, 2025.

Program 3

FACILITATE AND ENCOURAGE COMPLIANCE BY MEMBERS WITH THE SURPLUS LINE LAW OF ILLINOIS AND RULES PROMULGATED THEREUNDER AND PROVIDE SUCH OTHER SERVICES TO MEMBERS AS ARE INCIDENTAL OR RELATED TO THE...

FACILITATE AND ENCOURAGE COMPLIANCE BY MEMBERS WITH THE SURPLUS LINE LAW OF ILLINOIS AND RULES PROMULGATED THEREUNDER AND PROVIDE SUCH OTHER SERVICES TO MEMBERS AS ARE INCIDENTAL OR RELATED TO THE PURPOSES OF THE ASSOCIATION AS DESCRIBED IN SUBSECTIONS (8) AND (9) OF 215 ILCS 5/445.1 OF THE ILLINOIS INSURANCE CODE.

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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 (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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

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

$566,493

Total Directors

Key Employees

$341,490

Highest Compensated

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

SURPLUS LINE ASSOCIATION OF ILLINOIS