IIAA EDUCATIONAL FOUNDATION

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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

1975

Legal Domicile

Principal Officer

CHARLES E SYMINGTON JR

Phone

7036834422

Tax Period

2023-09-01 to 2024-08-31

IIAA EDUCATIONAL FOUNDATION, founded in 1975, is a micro nonprofit in the Education sector that reported $4K in total revenue in fiscal year 2023. Revenue fell 99% from the prior year — a significant decline worth monitoring. Expenses of $17K exceeded revenue, resulting in a 304% operating deficit.

Mission

ORGANIZED TO PROVIDE SCHOLARSHIPS, CHARITY OR OTHER FINANCIAL ASSISTANCE TO INDIVIDUALS OR BUSINESSES, AND TO FOSTER PROJECTS FOR EDUCATIONAL RESEARCH.

Program Service Accomplishments

Program 1

Expenses: $13,234

THE FOCUS OF THE FOUNDATION'S PROGRAMS ARE TO PROVIDE FINANCIAL ASSISTANCE TO INSURANCE INDUSTRY PERSONNEL IMPACTED BY CATASTROPHIC OCCURRENCES NOT COVERED BY THEIR OWN INSURANCE OR OTHER GRANTS AND FUNDING SOURCES. FOR THE YEAR ENDED AUGUST 31, 2023, THE ORGANIZATION AWARDED OVER $100,000 IN GRANTS TO QUALIFIED RECIPIENTS. THE FUNDING FOR THE FOUNDATION IS DERIVED FROM DONATIONS FROM IIABA MEMBERS, OTHER INDUSTRY ORGANIZATIONS AND INSURANCE CARRIERS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $4,179

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $4,179

Expense Breakdown

Grants Paid $13,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $13,234

Other Expenses $3,888

TOTAL EXPENSES $16,888

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,179	$300,472	-1.0%
Expenses	$16,888	$190,175	-0.9%
Net Income	$-12,709	$110,297	-1.1%

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

N/A

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

$1,799,256

Total Directors

$1,854,676

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANGELA RIPLEY	TRUSTEE	1.00	Director	$0	$0	$0
BOBBY SALMON	TRUSTEE	1.00	Director	$0	$0	$0
CHARLES SYMINGTON	CEO	1.00	Officer Director	$0	$58,522	$1,052,767
EUGENE S COCKE	CFO	1.00	Officer Director	$0	$50,818	$410,544
GREG SANDROCK	TRUSTEE	1.00	Director	$0	$0	$0
JOHN COSTELLO	TRUSTEE	1.00	Director	$0	$0	$32,276
LOU MORAN III	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL MCBRIDE	CHAIRMAN	1.00	Officer Director	$0	$0	$35,528
SCOTT KNEELAND	GENERAL COUNSEL	1.00	Officer Director	$0	$43,339	$300,417
TODD JACKSON	TRUSTEE	1.00	Director	$0	$0	$23,144
ROBERT RUSBULDT	CEO (UNTIL 08/31/23)	1.00		$0	$45,508	$1,043,882

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
2024	$4,179	$16,888	$940,857	$-12,709
2023	$300,472	$190,175	$960,322	$110,297
2022	$46,085	$128,791	$843,269	$-82,706
2021	$174,905	$733,108	$926,736	$-558,203
2020	$2,766,149	$1,442,736	$1,484,939	$1,323,413