INDEPENDENT INSURANCE AGENTS OF MARYLAND INC

EIN: 520578409

STEVENSVILLE, MD

Total Revenue
$223,879
Total Expenses
$288,105
Total Assets
$387,488
Net Assets
$142,689
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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
MD
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.

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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 (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

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Governance

Voting Members
10
Independent Members
10
Employees
4
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
7
$116,826
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
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
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