TRUSTED CHOICE INC

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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

2001

Legal Domicile

Principal Officer

CHARLES E SYMINGTON JR

Phone

7036834422

Tax Period

2023-09-01 to 2024-08-31

TRUSTED CHOICE INC, founded in 2001, is a community nonprofit in the Community Improvement sector that reported $4.3M in total revenue in fiscal year 2023. Revenue decreased 9% compared to the prior year. The organization ran a surplus of $807K, a strong 19% operating margin.

Mission

TRUSTED CHOICE IS A UNIFYING BRAND CREATED TO HELP EDUCATE CONSUMERS ABOUT THE BENEFITS OF USING AN INDEPENDENT INSURANCE AGENT OR BROKER WHEN BUYING INSURANCE.

Program Service Accomplishments

Program 1

TRUSTED CHOICE IS THE NATIONAL MARKETING BRAND CREATED EXCLUSIVELY FOR BIG "I" MEMBERS TO HELP CONSUMERS UNDERSTAND THE VALUE THAT AN INDEPENDENT AGENT OFFERS. THIS IS NOT A MARKET ACCESS PROGRAM...

TRUSTED CHOICE IS THE NATIONAL MARKETING BRAND CREATED EXCLUSIVELY FOR BIG "I" MEMBERS TO HELP CONSUMERS UNDERSTAND THE VALUE THAT AN INDEPENDENT AGENT OFFERS. THIS IS NOT A MARKET ACCESS PROGRAM, BUT A BRAND THAT IS DESIGNED TO HIGHLIGHT THE STRENGTHS OF INDEPENDENT INSURANCE AGENTS: CHOICE, CUSTOMIZATION, AND ADVOCACY.

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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 $100,000

Program Service Revenue $4,201,955

Investment Income $12,816

Other Revenue $0

TOTAL REVENUE $4,314,771

Expense Breakdown

Grants Paid $527,363

Salaries & Benefits $1,065,668

Fundraising Expenses $0

Other Expenses $1,914,310

TOTAL EXPENSES $3,507,341

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,314,771	$4,763,426	-0.1%
Expenses	$3,507,341	$4,488,761	-0.2%
Net Income	$807,430	$274,665	+1.9%

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

$2,035,181

Total Directors

$1,052,767

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRAD GREER	DIRECTOR	1.00	Director	$0	$0	$0
CHARLES SYMINGTON	PRESIDENT	9.00	Officer Director	$95,831	$58,522	$1,052,767
GEORGE DALY	DIRECTOR	1.00	Director	$0	$0	$0
JARED BURKHART	DIRECTOR	1.00	Director	$0	$0	$0
JEFF SCHLITT	DIRECTOR	1.00	Director	$0	$0	$0
JOHN BARBOUR	DIRECTOR	1.00	Director	$0	$0	$0
JON JENSEN	CHAIR	1.00	Officer Director	$0	$0	$0
MATT SIMON	DIRECTOR	1.00	Director	$0	$0	$0
MIKE BARRETT	DIRECTOR	1.00	Director	$0	$0	$0
EUGENE S COCKE	CFO	4.00	Officer	$28,778	$50,818	$410,544
KEVIN BRANDT	VICE PRESIDENT	33.00	Officer	$142,507	$33,940	$271,453
SCOTT D KNEELAND	CHIEF COUNSEL/SECRETARY	4.00	Officer	$18,697	$43,339	$300,417
ROBERT A RUSBULDT	FORMER PRESIDENT	4.00		$57,737	$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	$4,314,771	$3,507,341	$3,581,469	$807,430
2023	$4,763,426	$4,488,761	$2,851,197	$274,665
2022	$4,862,551	$5,074,383	$3,003,484	$-211,832
2021	$4,834,266	$5,382,619	$2,879,409	$-548,353
2020	$4,886,423	$6,389,219	$3,522,353	$-1,502,796
2019	$4,867,548	$4,584,023	$4,723,016	$283,525
2018	$4,995,257	$4,605,129	$4,710,142	$390,128