INDEPENDENT INSURANCE AGENTS OF MA… - 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

1939

Legal Domicile

Principal Officer

REBEKAH LANGFORD

Phone

4107660600

Tax Period

2024-09-01 to 2025-08-31

INDEPENDENT INSURANCE AGENTS OF MARYLAND INC, founded in 1939, is a small nonprofit that reported $224K in total revenue in fiscal year 2024. Revenue decreased 17% compared to the prior year. Expenses of $288K exceeded revenue, resulting in a 29% operating deficit.

Mission

TO ENSURE THE SUCCESS OF INDEPENDENT INSURANCE PRODUCERS AND AGENCY STAFF THROUGHOUT MARYLAND BY FOCUSING ON PROVIDING ACCESS TO PRODUCTS FOR BOTH THE AGENT AND THEIR CLIENTS, ADVOCACY, TIMELY INDUSTRY INFORMATION AND SUPERIOR EDUCATION PROGRAMS.

Program Service Accomplishments

Program 1

PROMOTE AND REPRESENT COMMON BUSINESS INTERESTS OF INDEPENDENT INSURANCE AGENTS IN AN EFFORT TO IMPROVE THE PROFESSIONAL STANDARDS FOR INSURANCE PRODUCERS IN THE STATE OF MARYLAND.

Program 2

THE ASSOCIATION PROVIDES BOTH LICENSING AND CONTINUING EDUCATION COURSES TO ENHANCE EDUCATION AND TRAINING IN THE INSURANCE AND RISK MANAGEMENT FIELD. THE ASSOCIATION HAS 106 APPROVED COURSES...

THE ASSOCIATION PROVIDES BOTH LICENSING AND CONTINUING EDUCATION COURSES TO ENHANCE EDUCATION AND TRAINING IN THE INSURANCE AND RISK MANAGEMENT FIELD. THE ASSOCIATION HAS 106 APPROVED COURSES, INCLUDING 16 CLASSROOM COURSES AND 90 ONLINE COURSES. ONLINE COURSES ARE AVAILABLE LIVE, ON DEMAND, AND THROUGH A VIRTUAL LIVE LICENSING CLASS FORMAT. IN ADDITION, THROUGH PARTNERSHIPS WITH WEBCE AND CEU, THE ASSOCIATION OFFERS AN ADDITIONAL 275 ONLINE PROGRAMS, INCLUDING ONLINE LICENSING COURSES. COURSES ARE OFFERED AT VARIOUS LOCATIONS THROUGHOUT THE STATE, AS WELL AS IN-HOUSE AT MEMBER AGENCY OFFICES.

Program 3

THE ASSOCIATION HOLDS AN ANNUAL INSTALLATION DINNER AND MEETING IN SEPTEMBER/OCTOBER OF EACH YEAR. THE ASSOCIATION ALSO CONDUCTS ONE GENERAL MEMBERSHIP MEETING, FOUR BOARD MEETINGS, SIX EXECUTIVE...

THE ASSOCIATION HOLDS AN ANNUAL INSTALLATION DINNER AND MEETING IN SEPTEMBER/OCTOBER OF EACH YEAR. THE ASSOCIATION ALSO CONDUCTS ONE GENERAL MEMBERSHIP MEETING, FOUR BOARD MEETINGS, SIX EXECUTIVE COMMITTEE MEETINGS, AND VARIOUS COMMITTEE MEETINGS THROUGHOUT THE YEAR TO SUPPORT GOVERNANCE AND MEMBER ENGAGEMENT.

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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 $161,646

Investment Income $44,744

Other Revenue $17,489

TOTAL REVENUE $223,879

Expense Breakdown

Grants Paid $2,500

Salaries & Benefits $243,197

Fundraising Expenses $0

Other Expenses $42,408

TOTAL EXPENSES $288,105

Year-over-Year Comparison

	2024	2023	Change
Revenue	$223,879	$269,593	-0.2%
Expenses	$288,105	$309,674	-0.1%
Net Income	$-64,226	$-40,081	+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

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

$116,826

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STACEY NICHOLSON	CHAIRMAN OF THE BOARD	0.30	Officer Director	$0	$0	$0
MATT HOGANS	CHAIRMAN-ELECT	0.30	Officer Director	$0	$0	$0
JOHN LATIMER	SECR/TREAS TILL 6/25	0.30	Officer Director	$0	$0	$0
CHRIS WELLER	SECR/TREAS FROM 6/25	0.30	Officer Director	$0	$0	$0
NANCY NICKLOW	STATE NATIONAL DIRECTOR	0.50	Officer Director	$0	$0	$0
ENVER BERKER HAZAR	IMMEDIATE PAST CHAIRMAN	0.50	Officer Director	$0	$0	$0
DECLAN MCCARTIN	DIRECTOR	0.30	Director	$0	$0	$0
COREY DONOVAN	DIRECTOR	0.30	Director	$0	$0	$0
JUDY ROBERSON	DIRECTOR	0.30	Director	$0	$0	$0
SCOTT HANEY	DIRECTOR	0.30	Director	$0	$0	$0
BRIAN MECK	DIRECTOR TILL 6/25	0.30	Director	$0	$0	$0
REBEKAH LANGFORD	PRESIDENT	40.00	Officer	$109,200	$7,626	$116,826

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	$223,879	$288,105	$387,488	$-64,226
2024	$269,593	$309,674	$355,949	$-40,081
2023	$238,276	$308,286	$376,852	$-70,010
2022	$250,884	$289,025	$486,373	$-38,141
2021	$208,457	$281,065	$553,233	$-72,608
2020	$305,175	$352,216	$477,174	$-47,041
2019	$360,857	$381,294	$538,020	$-20,437
2018	$376,948	$379,219	$553,606	$-2,271

INDEPENDENT INSURANCE AGENTS OF MARYLAND INC