NORTH CAROLINA SELF INSURANCE SECURITY ASSOCIATION (EIN 561566179) - 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

1986

Legal Domicile

Principal Officer

THOMAS R YARBORO

Phone

9194753451

Tax Period

2024-01-01 to 2024-12-31

NORTH CAROLINA SELF INSURANCE SECURITY ASSOCIATION, founded in 1986, is a community nonprofit that reported $4.1M in total revenue in fiscal year 2024. Revenue fell 30% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $3.2M, a strong 77% operating margin.

Mission

ASSOCIATION PROVIDES A MECHANISM FOR PAYMENT OF COVERED WORKERS' COMPENSATION CLAIMS INCURRED AGAINST FORMER MEMBER SELF-INSURERS.

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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 $1,773,039

Investment Income $2,310,582

Other Revenue $0

TOTAL REVENUE $4,083,621

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $932,039

TOTAL EXPENSES $932,039

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,083,621	$5,855,428	-0.3%
Expenses	$932,039	$9,526,619	-0.9%
Net Income	$3,151,582	$-3,671,191	-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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOMAS R YARBORO	CHAIRMAN, BOARD OF DIRECTO	3.00	Officer Director	$0	$0	$0
SCOTT MYERS	DIRECTOR	1.00	Director	$0	$0	$0
TIA SCHWEIKERT	DIRECTOR	1.00	Director	$0	$0	$0
PATRICK EGLINTON	VICE CHAIRMAN, BOARD OF DI	2.00	Officer Director	$0	$0	$0
JULIE GROVES	DIRECTOR	1.00	Director	$0	$0	$0
MELISSA CULBRETH	SECRETARY-TREASURER, BOARD	2.00	Officer Director	$0	$0	$0
NEAL COPE	DIRECTOR	1.00	Director	$0	$0	$0
LEIGH HICKMAN	DIRECTOR	1.00	Director	$0	$0	$0
CHARLES C KYLES	DIRECTOR	1.00	Director	$0	$0	$0
STEPHANIE ROGERS	DIRECTOR	1.00	Director	$0	$0	$0
GILL FRAZIER	DIRECTOR	1.00	Director	$0	$0	$0
AMANDA CULTER	DIRECTOR	1.00	Director	$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	$4,083,621	$932,039	$51,180,282	$3,151,582
2023	$5,855,428	$9,526,619	$49,828,194	$-3,671,191
2022	$1,919,399	$1,536,342	$42,811,926	$383,057
2021	$3,842,262	$1,298,299	$48,695,161	$2,543,963
2020	$3,366,637	$2,102,480	$46,345,350	$1,264,157
2019	$3,531,027	$2,167,713	$41,472,126	$1,363,314
2018	$3,488,583	$1,113,494	$35,748,658	$2,375,089

NORTH CAROLINA SELF INSURANCE SECURITY ASSOCIATION