ILLINOIS BANKERS GROUP INSURANCE TRUST (EIN 376082547) - 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

1967

Legal Domicile

Principal Officer

DANE CLEVEN

Phone

2177899340

Tax Period

2024-04-01 to 2025-03-31

ILLINOIS BANKERS GROUP INSURANCE TRUST, founded in 1967, is a mid-sized nonprofit that reported $23.1M in total revenue in fiscal year 2024.

Mission

TO PROVIDE LIFE, ACCIDENT, HEALTH, DENTAL, VISION AND DISABILITY INSURANCE FOR ELIGIBLE EMPLOYEES AND RETIREES OF ILLINOIS BANKERS ASSOCIATION MEMBERS.

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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 $22,784,688

Investment Income $292,879

Other Revenue $0

TOTAL REVENUE $23,077,567

Expense Breakdown

Grants Paid $0

Salaries & Benefits $257,057

Fundraising Expenses $0

Other Expenses $411,232

TOTAL EXPENSES $24,231,670

Year-over-Year Comparison

	2024	2023	Change
Revenue	$23,077,567	$22,676,036	+0.0%
Expenses	$24,231,670	$23,591,473	+0.0%
Net Income	$-1,154,103	$-915,437	+0.3%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DANE CLEVEN	CHAIRMAN	2.00	Officer Director	$0	$0	$0
CRAIG HEPNER	VICE CHAIRMAN	2.00	Officer Director	$0	$0	$0
KENNETH B ELMORE	TRUSTEE	2.00	Director	$0	$0	$0
TJ BURGE	TRUSTEE	2.00	Director	$0	$0	$0
WALTER HASSELBRING III	TRUSTEE	2.00	Director	$0	$0	$0
JUSTIN FENTRESS	TRUSTEE	2.00	Director	$0	$0	$0
KATHLEEN MARINANGEL	TRUSTEE	2.00	Director	$0	$0	$0
MICHAEL M MAHORNEY	SENIOR TRUST ADVISOR	40.00	Highest	$140,262	$10,600	$150,862

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	$23,077,567	$24,231,670	$5,567,409	$-1,154,103
2024	$22,676,036	$23,591,473	$7,103,329	$-915,437
2023	$22,260,932	$22,445,937	$7,155,983	$-185,005
2022	$22,147,999	$22,573,153	$7,678,048	$-425,154
2021	$19,798,077	$21,218,650	$8,460,196	$-1,420,573
2020	$17,161,410	$17,576,370	$8,516,641	$-414,960

ILLINOIS BANKERS GROUP INSURANCE TRUST