NATIONWIDE INSURANCE INDEPENDENT C… - 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

1996

Legal Domicile

Principal Officer

DON WERNER

Phone

7275196178

Tax Period

2020-01-01 to 2020-06-30

NATIONWIDE INSURANCE INDEPENDENT CONTRACTORS ASSOCIATION, founded in 1996, is a small nonprofit that reported $124K in total revenue in fiscal year 2020. Expenses of $333K exceeded revenue, resulting in a 169% operating deficit.

Mission

TO PROMOTE THE COMMON BUSINESS INTERESTS OF ITS MEMBERS WHO ARE NATIONWIDE INSURANCE INDEPENDENT CONTRACTOR AGENTS, THROUGH THE STUDY, DEVELOPMENT AND PROMULGATION OF RULES, PRINCIPLES, AND IDEAS PROMOTING ENHANCED PROFESSIONALISM, COMPETENCE AND ETHICAL PRACTICE IN THE FIELD.

Program Service Accomplishments

Program 1

WITH NATIONWIDE'S (NW) DECISION TO IMPLEMENT A PROGRAM TO MAKE ALL CAPTIVE AGENTS TRULY INDEPENDENT AGENTS BY JULY 2020, NIICA CONTINUED TO FOCUS ON HELPING AGENTS EVALUATE AND IMPLEMENT THE THREE...

WITH NATIONWIDE'S (NW) DECISION TO IMPLEMENT A PROGRAM TO MAKE ALL CAPTIVE AGENTS TRULY INDEPENDENT AGENTS BY JULY 2020, NIICA CONTINUED TO FOCUS ON HELPING AGENTS EVALUATE AND IMPLEMENT THE THREE OPTIONS BEING OFFERED. WE ALSO CONTINUED OUR SOCIAL MEDIA DISCUSSION GROUP FOR NIICA MEMBERS TO OFFER ANY UPDATED INFORMATION, DISCUSS CONCERNS WITH THE PROPOSED CHANGES, AND GENERALLY OFFER SUPPORT FOR EACH OTHER IN THIS TIME OF TRANSITION.

Program 2

THE ASSOCIATION OFFERED A SERIES OF WORKSHOPS AND A VENDOR EXPO IN FEBRUARY 2020. THE VENDOR EXPO OFFERED PRODUCTS AND SERVICES OUR MEMBERS WILL NEED TO CONSIDER AS THEY TRANSITION TO INDEPENDENT...

THE ASSOCIATION OFFERED A SERIES OF WORKSHOPS AND A VENDOR EXPO IN FEBRUARY 2020. THE VENDOR EXPO OFFERED PRODUCTS AND SERVICES OUR MEMBERS WILL NEED TO CONSIDER AS THEY TRANSITION TO INDEPENDENT STATUS. THE WORKSHOPS INCLUDED PRESENTATIONS ON ISSUES AGENTS WILL NEED TO CONSIDER TO CHANGE THEIR BUSINESS MODEL IN THE TRANSITION TO INDEPENDENT STATUS. NIICA STARTED THE PROCESS TO DISSOLVE THE ASSOCIATION IN 2020 TO COINCIDE WITH THE NW COMPLETION OF THEIR PLANS FOR THE AGENTS TO BE INDEPENDENT BY JULY 1, 2020. NIICA ALSO BEGAN TO EXPLORE THE VARIOUS ASSOCIATIONS SUPPORTING THE INDUSTRY'S EXISTING INDEPENDENT AGENCIES TO IDENTIFY MEMBERSHIP TRANSITION OPPORTUNITIES IN 2020.

Program 3

THE ASSOCIATION DISTRIBUTED BREAKING NEWS USING BROADCAST EMAILS AND FAXES KNOWN AS NIICABLES.

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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 (2020)

Revenue Breakdown

Contributions & Grants $5,000

Program Service Revenue $80,679

Investment Income $0

Other Revenue $38,024

TOTAL REVENUE $123,703

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $333,075

TOTAL EXPENSES $333,075

Year-over-Year Comparison

	2020	2019	Change
Revenue	$123,703	$129,606	0.0%
Expenses	$333,075	$254,352	+0.3%
Net Income	$-209,372	$-124,746	+0.7%

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

$13,403

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOM POLVOGT	PRESIDENT	2.00	Officer Director	$0	$0	$0
TIM HALKOS	FIRST VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
HOMER DAVIS	SECOND VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
ERIC PIRTLE	SECRETARY/TREASURER	2.00	Officer Director	$0	$0	$0
DAVID GARDNER	IMMEDIATE PAST PRESIDENT	2.00	Officer Director	$0	$0	$0
KATHY CARPENTER	DIRECTOR	1.00	Director	$0	$0	$0
DAVID DENNISON	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER METTS	DIRECTOR	1.00	Director	$0	$0	$0
ADAM MILLER	DIRECTOR	1.00	Director	$0	$0	$0
STEVE WALL	DIRECTOR	1.00	Director	$0	$0	$0
DAVID CARPENTER	DIRECTOR	1.00	Director	$0	$0	$0
RUSTY HEALY	DIRECTOR	1.00	Director	$0	$0	$0
MELLISA RAY	DIRECTOR	1.00	Director	$0	$0	$0
BILL BRADY	DIRECTOR	1.00	Director	$0	$0	$0
DON WERNER	EXECUTIVE DIRECTOR	3.00	Officer	$13,403	$0	$13,403

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
2020	$123,703	$333,075	No data	$-209,372
2019	$129,606	$254,352	$209,522	$-124,746
2018	$148,274	$150,239	$334,118	$-1,965

NATIONWIDE INSURANCE INDEPENDENT CONTRACTORS ASSOCIATION