FLORIDA SURPLUS LINES SERVICE OFFI… - Form 990 Financial Data

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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

1998

Legal Domicile

Principal Officer

MARK SHEALY

Phone

8502247676

Tax Period

2023-01-01 to 2023-12-31

FLORIDA SURPLUS LINES SERVICE OFFICE INC, founded in 1998, is a mid-sized nonprofit that reported $12.0M in total revenue in fiscal year 2023. The organization ran a surplus of $2.7M, a strong 23% operating margin.

Mission

TO SERVE AND PROTECT OUR CUSTOMER'S INTEREST BY FACILITATING COMPLIANCE AND PROVIDING ASSISTANCE AND INFORMATION REGARDING THE FLORIDA SURPLUS LINES MARKETPLACE.

Program Service Accomplishments

Program 1

ASSESSING AND COLLECTING SURPLUS LINES TAX FOR THE STATE OF FLORIDA; ASSISTING CONSUMERS WITH LOCATING PROPERTY & CASUALTY INSURANCE AND OTHER HARD-TO-PLACE CONVERAGES IN THE STATE OF FLORIDA...

ASSESSING AND COLLECTING SURPLUS LINES TAX FOR THE STATE OF FLORIDA; ASSISTING CONSUMERS WITH LOCATING PROPERTY & CASUALTY INSURANCE AND OTHER HARD-TO-PLACE CONVERAGES IN THE STATE OF FLORIDA; OFFERING CONTINUING EDUCATION COURSES AND TRAINING PROGRAMS TO INSURANCE AGENTS AND PROFESSIONALS; OPERATING THE AGENT'S COMPLIANCE REVIEW PROGRAM WHICH IS DESIGNED TO PROMOTE CREDIBILITY WITHIN THE SURPLUS LINES MARKET; PROVIDING ACCESS TO INFORMATION ON ALL ASPECTS OF THE SURPLUS LINES MARKETPLACE, INCLUDING REGULATORY PROCESS, DISTRIBUTIONS SYSTEMS AND FINANCIAL ANALYSIS.

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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 $11,639,211

Investment Income $-925,309

Other Revenue $1,325,279

TOTAL REVENUE $12,039,181

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,195,660

Fundraising Expenses $0

Other Expenses $5,125,537

TOTAL EXPENSES $9,321,197

Year-over-Year Comparison

	2023	2022	Change
Revenue	$12,039,181	$11,156,832	+0.1%
Expenses	$9,321,197	$7,187,878	+0.3%
Net Income	$2,717,984	$3,968,954	-0.3%

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

$463,091

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TASHA CARTER	INSURANCE CONSUMER ADVOCATE	1.00	Director	$0	$0	$0
VIRGINIA CLANCY	DIRECTOR	1.00	Director	$0	$0	$0
STEVE CLEIN	DIRECTOR	1.00	Director	$0	$0	$0
KATHY COLANGELO	DIRECTOR	1.00	Director	$0	$0	$0
STEVE FINVER	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL FRANZESE	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
CONOR O'LEARY	VICE CHAIRMAN	1.50	Officer Director	$0	$0	$0
LIZ SMITH	DIRECTOR	2.00	Director	$0	$0	$0
LORNA WIRTZ	CHAIRMAN	1.50	Officer Director	$0	$0	$0
IRVIN SKIP WOLF	DIRECTOR (UNTIL 9/30)	1.00	Director	$0	$0	$0
DAVID HOLCOMBE	CHAIRMAN (UNTIL 9/30)	1.00	Officer Director	$0	$0	$0
MARK SHEALY	EXECUTIVE DIRECTOR	45.00	Officer	$299,818	$48,285	$348,103
CHRISTINE MELLON	CFO	45.00	Officer	$99,467	$15,521	$114,988
GEORGIE BARRETT	DEPUTY DIRECTOR OF OPERATIONS	45.00	Highest	$174,384	$40,793	$215,177
BRYAN YOUNG	DIRECTOR OF AGENT AND INSURER SERVICES	45.00	Highest	$162,790	$30,616	$193,406
DANIEL MANN	SR SYSTEMS ENGINEER/DBA	45.00	Highest	$134,899	$19,247	$154,146
JAMES FARMER	INFORMATION SECURITY OFFICER	45.00	Highest	$133,834	$23,374	$157,208
TIFFANY ANDERSON	DIRECTOR OF SLAS CLIENT SERVICES	45.00	Highest	$133,702	$37,039	$170,741
GARY PULLEN	FORMER EXECUTIVE DIRECTOR	45.00		$246,299	$66,000	$312,299

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	$12,039,181	$9,321,197	$56,291,395	$2,717,984
2022	$11,156,832	$7,187,878	$50,239,423	$3,968,954
2021	$9,728,040	$7,659,276	$53,775,536	$2,068,764
2020	$8,624,657	$7,130,731	$50,419,459	$1,493,926
2019	$8,950,260	$5,485,925	$46,009,189	$3,464,335
2018	$8,298,200	$5,818,979	$39,696,827	$2,479,221

FLORIDA SURPLUS LINES SERVICE OFFICE INC