TALLAHASSEE, FL
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)FLORIDA WORKERS' COMPENSATION INSURANCE GUARANTY ASSOCIATION INC, founded in 1998, is a community nonprofit that reported $8.0M in total revenue in fiscal year 2023. Revenue decreased 9% compared to the prior year. Expenses of $14.6M exceeded revenue, resulting in a 82% operating deficit.
TO PROVIDE A MECHANISM FOR THE PAYMENT OF COVERED WORKERS' COMPENSATION CLAIMS OF INSOLVENT INSURERS AND TO ASSIST IN THE DETECTION AND PREVENTION OF INSURER INSOLVENCIES.
ALL MEMBERS OF FWCIGA ARE INSURERS THAT PROVIDE WORKERS COMPENSATION COVERAGES IN FLORIDA. ASSESSMENTS ARE LEVIED ON SOLVENT MEMBERS BASED ON A PERCENTAGE OF DIRECT WRITTEN PREMIUMS FOR WORKERS...
ALL MEMBERS OF FWCIGA ARE INSURERS THAT PROVIDE WORKERS COMPENSATION COVERAGES IN FLORIDA. ASSESSMENTS ARE LEVIED ON SOLVENT MEMBERS BASED ON A PERCENTAGE OF DIRECT WRITTEN PREMIUMS FOR WORKERS COMPENSATION COVERAGES THAT ESTIMATE THE AMOUNT OF INSOLVENT MEMBERS' CLAIMS. THE ASSESSMENTS ARE USED TO PAY CLAIMS AGAINST INSOLVENT MEMBERS. IN 2023, PAID 370 CLAIMS. THERE ARE APPROXIMATELY 414 MEMBERS.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $7,986,133 | $8,796,054 | -0.1% |
| Expenses | $14,551,893 | $16,560,667 | -0.1% |
| Net Income | $-6,565,760 | $-7,764,613 | -0.2% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| THOMAS STAHL | CHAIRMAN | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| BRETT STIEGEL | VICE CHAIRMAN | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| MATTHEW BROOKS | DIRECTOR | 2.00 |
Director
|
$0 | $0 | $0 |
| TASHA CARTER | DIRECTOR | 2.00 |
Director
|
$0 | $0 | $0 |
| JIM COSTA | DIRECTOR | 2.00 |
Director
|
$0 | $0 | $0 |
| THERESE STEVENS | DIRECTOR | 2.00 |
Director
|
$0 | $0 | $0 |
| ALAN HAIR | DIRECTOR | 2.00 |
Director
|
$0 | $0 | $0 |
| JOHN WEBER | DIRECTOR | 2.00 |
Director
|
$0 | $0 | $0 |
| SAM OSWALD | DIRECTOR | 2.00 |
Director
|
$0 | $0 | $0 |
| JIM WARD | DIRECTOR | 2.00 |
Director
|
$0 | $0 | $0 |
| ROBERT DEVIERE | DIRECTOR | 2.00 |
Director
|
$0 | $0 | $0 |
| COREY NEAL | SECRETARY/TREASURER | 20.00 |
Officer
|
$130,308 | $26,553 | $156,861 |
| CHARLIE GREENE | CLAIMS MANAGER | 40.00 |
Highest
|
$118,597 | $27,077 | $145,674 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2023 | $7,986,133 | $14,551,893 | $146,462,410 | $-6,565,760 |
| 2022 | $8,796,054 | $16,560,667 | $153,086,185 | $-7,764,613 |
| 2021 | $30,980,706 | $21,102,742 | $160,792,783 | $9,877,964 |
| 2020 | $34,230,229 | $21,327,247 | $150,914,819 | $12,902,982 |
| 2019 | $46,138,634 | $37,587,286 | $138,011,837 | $8,551,348 |
| 2018 | $82,026,974 | $49,261,978 | $129,460,489 | $32,764,996 |
Compare FLORIDA WORKERS' COMPENSATION INSURANCE GUARANTY ASSOCIATION INC with other nonprofits in Florida and across the country.