NORTH CAROLINA RATE BUREAU (EIN 561179542) - Form 990 Financial Analysis & Trantor Score

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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

1977

Legal Domicile

Principal Officer

EDITH DAVIS

Phone

9197839790

Tax Period

2024-01-01 to 2024-12-31

NORTH CAROLINA RATE BUREAU, founded in 1977, is a mid-sized nonprofit that reported $20.7M in total revenue in fiscal year 2024. Revenue grew 8% year-over-year, indicating healthy expansion. Expenses of $19.4M left a modest 6% surplus.

Mission

THE BUREAU WAS ESTABLISHED UNDER ARTICLE 36, CHAPTER 58, NC GENERAL STATUTES. THE PURPOSE OF THE NORTH CAROLINA RATE BUREAU IS TO ADMINISTER PROPERTY AND CASUALTY RATES FOR THE INSURANCE INDUSTRY IN NORTH CAROLINA. THE BUREAU MAINTAINS RULES AND REGULATIONS AND ESTABLISHES PREMIUM RATES FOR MOTOR VEHICLE, WORKERS' COMPENSATION AND PROPERTY INSURANCE. THE BUREAU ALSO ENSURES THE AVAILABILITY OF WORKERS' COMPENSATION INSURANCE TO ANY ELIGIBLE RISK IN NORTH CAROLINA BY ASSIGNING THE RISKS TO MEMBERS ON AN EQUITABLE BASIS.ALL EXPENSES ARE RELATED TO THOSE FUNCTIONS. THE NC RATE BUREAU RECEIVES NO GRANTS AND ALL EXPENSES ARE BORNE BY ITS MEMBER INSURANCE COMPANIES IN PROPORTION TO WRITTEN PREMIUMS.

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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 $20,662,796

Investment Income $-2,339

Other Revenue $2,233

TOTAL REVENUE $20,662,690

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,570,290

Fundraising Expenses $0

Other Expenses $11,841,077

TOTAL EXPENSES $19,411,367

Year-over-Year Comparison

	2024	2023	Change
Revenue	$20,662,690	$19,098,097	+0.1%
Expenses	$19,411,367	$20,008,203	0.0%
Net Income	$1,251,323	$-910,106	-2.4%

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

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

$758,700

Total Directors

Key Employees

$261,811

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOANNA BILIOURIS	GENERAL MANAGER	15.00	Officer	$348,034	$36,409	$384,443
EDITH DAVIS	CHIEF FINANCIAL OFFICER	11.63	Officer	$272,657	$101,600	$374,257
VICKI GODBOLD	CHIEF ADMINISTRATIVE OFFICER	17.63	Highest	$260,395	$93,448	$353,843
SHELLEY CHANDLER	CHIEF INFORMATION OFFICER	16.50	Highest	$250,957	$51,029	$301,986
FRANK LONNETT	DIRECTOR, IT SERVICES & DATA	16.50	Highest	$202,798	$67,013	$269,811
JARRED CHAPPELL	CHIEF OPERATING OFFICER	35.63	Key Emp	$211,883	$49,928	$261,811
ANDY MONTANO	DIRECTOR, PERSONAL LINES	31.13	Highest	$188,006	$38,947	$226,953
LAURA LEE LONGEST	DIRECTOR, SOFTWARE DEVELOPMENT	18.75	Highest	$198,227	$27,859	$226,086
N/A	GOVERNING COMMITTEE (INCOMING 2024)	1.00		$0	$0	$0
N/A	GOVERNING COMMITTEE	1.00		$0	$0	$0
N/A	GOVERNING COMMITTEE (OUTGOING 2024)	1.00		$0	$0	$0
N/A	GOVERNING COMMITTEE	1.00		$0	$0	$0
N/A	GOVERNING COMMITTEE (OUTGOING 2024)	1.00		$0	$0	$0
N/A	GOVERNING COMMITTEE (INCOMING 2024)	1.00		$0	$0	$0
N/A	GOVERNING COMMITTEE (OUTGOING 2024)	1.00		$0	$0	$0
N/A	GOVERNING COMMITTEE	1.00		$0	$0	$0
N/A	GOVERNING COMMITTEE	1.00		$0	$0	$0
N/A	GOVERNING COMMITTEE (INCOMING 2024)	1.00		$0	$0	$0
N/A	GOVERNING COMMITTEE	1.00		$0	$0	$0
N/A	VICE CHAIR	1.00		$0	$0	$0
N/A	GOVERNING COMMITTEE	1.00		$0	$0	$0
N/A	GOVERNING COMMITTEE	1.00		$0	$0	$0
N/A	CHAIR	1.00		$0	$0	$0

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	$20,662,690	$19,411,367	$4,506,399	$1,251,323
2023	$19,098,097	$20,008,203	$3,252,512	$-910,106
2022	$18,311,373	$18,031,526	$4,309,684	$279,847
2021	$15,641,391	$16,271,108	$4,029,837	$-629,717
2020	$17,371,818	$17,289,021	$4,659,554	$82,797
2019	$19,616,703	$17,875,793	$4,576,757	$1,740,910
2018	$16,843,180	$16,102,360	$2,835,847	$740,820

NORTH CAROLINA RATE BUREAU