UNIVERSITY OF SOUTH ALABAMA PROFESSIONAL LIABILITY TRUST FUND

EIN: 581729901 501(c)(3)

MOBILE, AL

Total Revenue
$13,496,371
Total Expenses
$9,199,031
Total Assets
$63,417,460
Net Assets
$63,417,460
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
1985
Legal Domicile
AL
Principal Officer
CONSTANCE G COOK
Phone
2514606232
Tax Period
2023-10-01 to 2024-09-30

UNIVERSITY OF SOUTH ALABAMA PROFESSIONAL LIABILITY TRUST FUND, founded in 1985, is a community nonprofit that reported $9.6M in total revenue in fiscal year 2019. Revenue fell 46% from the prior year — a significant decline worth monitoring. Expenses of $24.9M exceeded revenue, resulting in a 158% operating deficit.

Mission

PROVIDE RISK MANAGEMENT SERVICES FOR THE BENEFIT OF SPONSORING TAX-EXEMPT ENTITIES, INCLUDING EDUCATION OF EMPLOYEES THEREOF.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $11,427,410
Investment Income $2,068,961
Other Revenue $0
TOTAL REVENUE $13,496,371

Expense Breakdown

Grants Paid $0
Salaries & Benefits $446,804
Fundraising Expenses $0
Program Expenses $9,199,031
Other Expenses $8,752,227
TOTAL EXPENSES $9,199,031

Year-over-Year Comparison

2023 2022 Change
Revenue $13,496,371 $9,318,916 +0.4%
Expenses $9,199,031 $10,797,340 -0.1%
Net Income $4,297,340 $-1,478,424 -3.9%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Governance

Voting Members
10
Independent Members
N/A
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
1
$185,581
Total Directors
10
$5,661,649
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
OWEN BAILEY DIRECTOR 1.00
Director
$0 $114,127 $893,943
JOHN MARYMONT DIRECTOR 1.00
Director
$0 $55,281 $884,515
MARTIN HESLIN DIRECTOR 0.00
$0 $29,873 $801,687
JO BONNER DIRECTOR 1.00
Director
$0 $62,942 $745,863
MICHAEL CHANG DIRECTOR 1.00
Director
$0 $29,126 $700,574
ANDI KENT DIRECTOR 1.00
Director
$0 $83,734 $619,739
JON SIMMONS DIRECTOR 1.00
Director
$0 $23,842 $603,624
BENNY STOVER DIRECTOR 0.00
$0 $29,530 $503,866
JAMES CARTER JR DIRECTOR 0.00
$0 $55,524 $372,293
WILLIAM GRETE DIRECTOR 1.00
Director
$0 $31,530 $363,480
KRISTIN DUKES DIRECTOR 1.00
Director
$0 $53,746 $351,277
KRISTEN ROBERTS DIRECTOR 1.00
Director
$0 $46,149 $313,053
POLLY STOKLEY DIRECTOR 0.00
$0 $29,887 $271,857
CONSTANCE G COOK DIRECTOR, PA 1.00
Officer Director
$0 $34,835 $185,581
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 $13,496,371 $9,199,031 $63,417,460 $4,297,340
2023 $9,318,916 $10,797,340 $49,701,777 $-1,478,424
2022 $10,520,039 $6,526,267 $46,586,944 $3,993,772
2021 $10,546,535 $8,612,701 $52,169,275 $1,933,834
2020 $9,648,854 $24,908,634 $44,503,519 $-15,259,780
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