JOINT INSURANCE ASSOCIATION

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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

1968

Legal Domicile

Principal Officer

CHRISTOPHER DOOLEY

Phone

4105396808

Tax Period

2024-10-01 to 2025-09-30

JOINT INSURANCE ASSOCIATION, founded in 1968, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2024. Revenue surged 33% from the prior year, signaling strong growth momentum. Expenses of $2.1M exceeded revenue, resulting in a 71% operating deficit.

Mission

TO PROVIDE CERTAIN PROPERTY AND CASUALTY INSURANCE TO APPLICANTS IN THE STATE OF MARYLAND.

Program Service Accomplishments

Program 1

Expenses: $2,118,277 Revenue: $981,416

THE MARYLAND JOINT INSURANCE ASSOCIATION WAS FORMED IN 1968 TO PROVIDE CERTAIN PROPERTY AND CASUALTY INSURANCE TO APPLICANTS IN THE STATE OF MARYLAND. FOR THE YEAR ENDED 9/30/25, JOINT INSURANCE...

THE MARYLAND JOINT INSURANCE ASSOCIATION WAS FORMED IN 1968 TO PROVIDE CERTAIN PROPERTY AND CASUALTY INSURANCE TO APPLICANTS IN THE STATE OF MARYLAND. FOR THE YEAR ENDED 9/30/25, JOINT INSURANCE ASSOCIATION HAD 800 POLICIES IN-FORCE.

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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 $981,416

Investment Income $0

Other Revenue $259,929

TOTAL REVENUE $1,241,345

Expense Breakdown

Grants Paid $0

Salaries & Benefits $988,497

Fundraising Expenses $0

Program Expenses $2,118,277

Other Expenses $1,129,780

TOTAL EXPENSES $2,118,277

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,241,345	$934,431	+0.3%
Expenses	$2,118,277	$1,976,382	+0.1%
Net Income	$-876,932	$-1,041,951	-0.2%

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

$215,866

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TODD RUSH	GOVERNING COMMITTEE	1.00	Director	$0	$0	$0
GIDEON SAMSON	GOVERNING COMMITTEE	1.00	Director	$0	$0	$0
ASHLEE MULLENBACH	GOVERNING COMMITTEE	1.00	Director	$0	$0	$0
KAREN MASHINSKI	GOVERNING COMMITTEE	1.00	Director	$0	$0	$0
KKARL ECKHARDT	GOVERNING COMMITTEE	1.00	Director	$0	$0	$0
GEORGE DIOGUARDO	GOVERNING COMMITTEE	1.00	Director	$0	$0	$0
MICHAEL PFARR	GOVERNING COMMITTEE	1.00	Director	$0	$0	$0
JAMES MULHOLLAND	CHAIRMAN	1.00	Officer Director	$0	$0	$0
BILL LINGENFELTER	VICE CHAIRMAIN	1.00	Officer Director	$0	$0	$0
CHRISTOPHER DOOLEY	GENERAL MANAGER & SECRETAR	40.00	Officer	$196,438	$19,428	$215,866
KIMBERLY DOMBROSKI	ACCOUNTING SUPERVISOR	40.00	Highest	$98,741	$12,204	$110,945

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	$1,241,345	$2,118,277	$2,554,858	$-876,932
2024	$934,431	$1,976,382	$3,055,123	$-1,041,951
2023	$801,886	$1,424,962	$1,837,151	$-623,076
2022	$770,233	$1,546,098	$2,641,203	$-775,865
2021	$845,957	$1,493,559	$1,626,730	$-647,602
2020	$920,301	$1,534,526	$2,257,661	$-614,225
2019	$968,644	$1,477,750	$2,873,972	$-509,106
2018	$1,094,792	$1,651,582	$1,681,944	$-556,790