GEORGIA BANKERS ASSOCIATION INSURANCE TRUST INC (EIN 582241094) - 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

1961

Legal Domicile

Principal Officer

TESSA NOLAN

Phone

4045221501

Tax Period

2023-01-01 to 2023-12-31

GEORGIA BANKERS ASSOCIATION INSURANCE TRUST INC, founded in 1961, is a major nonprofit that reported $110.4M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $96.7M left a modest 12% surplus.

Mission

TO PROVIDE GROUP INSURANCE BENEFITS TO MEMBERS OF THE GEORGIA BANKERS ASSOCIATION.

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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 $0

Program Service Revenue $107,518,299

Investment Income $2,892,726

Other Revenue $0

TOTAL REVENUE $110,411,025

Expense Breakdown

Grants Paid $0

Salaries & Benefits $998,323

Fundraising Expenses $0

Other Expenses $4,875,862

TOTAL EXPENSES $96,718,587

Year-over-Year Comparison

	2023	2022	Change
Revenue	$110,411,025	$101,532,060	+0.1%
Expenses	$96,718,587	$100,859,396	0.0%
Net Income	$13,692,438	$672,664	+19.4%

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

$1,260,063

Total Directors

$527,702

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD WHALEY	CHAIRMAN	1.00	Officer Director	$0	$0	$0
JUD VANN	AT LARGE	1.00	Director	$0	$0	$0
J JOSEPH BRANNEN	AT LARGE	1.00	Officer Director	$0	$0	$527,702
CHRIS EDWARDS	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
RYAN EARNEST	AT LARGE	1.00	Director	$0	$0	$0
GLENN P WILLIS JR	AT LARGE	1.00	Director	$0	$0	$0
L JACKSON MCCONNELL JR	AT LARGE	1.00	Director	$0	$0	$0
PHILIP WILLIAMS	AT LARGE	1.00	Director	$0	$0	$0
MIKE ODOM	AT LARGE	1.00	Director	$0	$0	$0
BRAD BARBER	AT LARGE	1.00	Director	$0	$0	$0
TESSA NOLAN	CFO	40.00	Officer	$209,178	$31,148	$240,326
KERI BROOKS	CORPORATE COUNSEL	40.00	Officer	$181,803	$31,496	$213,299
MICHAEL T COFIELD	CEO/PRESIDENT	40.00	Officer	$248,116	$30,620	$278,736
JAYN LAWSON	MANAGER MEMBER SUPPORT	40.00	Highest	$116,532	$0	$116,532
VIRGINIA L MONROE	MANAGER FINANCE & ADMIN	40.00	Highest	$142,196	$0	$142,196

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	No data	No data	No data	No data
2023	$110,411,025	$96,718,587	$78,707,553	$13,692,438
2022	$101,532,060	$100,859,396	$66,520,355	$672,664
2021	$119,824,197	$123,801,415	$79,768,287	$-3,977,218
2020	$122,885,701	$114,088,122	$76,512,035	$8,797,579
2019	$134,170,496	$129,431,167	$66,579,579	$4,739,329
2018	$137,236,776	$130,825,587	$57,126,742	$6,411,189

GEORGIA BANKERS ASSOCIATION INSURANCE TRUST INC