INDEPENDENT INSURANCE AGENTS OF TENNESSEE INC

EIN: 620379523

NASHVILLE, TN

Total Revenue
$2,150,492
Total Expenses
$1,906,963
Total Assets
$6,099,941
Net Assets
$5,565,458
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1930
Legal Domicile
TN
Principal Officer
KRISTEN GULSON
Phone
6153851898
Tax Period
2024-01-01 to 2024-12-31

INDEPENDENT INSURANCE AGENTS OF TENNESSEE INC, founded in 1930, is a community nonprofit that reported $2.2M in total revenue in fiscal year 2024. Expenses of $1.9M left a modest 11% surplus.

Mission

THE ORGANIZATION OFFERS SUPPORT TO INDEPENDENT INSURANCE AGENCIES THROUGH LOBBYING, OFFERING PRODUCTS FOR AGENCY NEEDS, EDUCATION, AND RESOURCES IN ORDER TO BETER SERVE THE PUBLIC AND THEIR COMPANY.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $915,411
Investment Income $312,519
Other Revenue $922,562
TOTAL REVENUE $2,150,492

Expense Breakdown

Grants Paid $19,000
Salaries & Benefits $922,739
Fundraising Expenses $0
Program Expenses $2,253,263
Other Expenses $965,224
TOTAL EXPENSES $1,906,963

Year-over-Year Comparison

2024 2023 Change
Revenue $2,150,492 $2,039,535 +0.1%
Expenses $1,906,963 $1,753,259 +0.1%
Net Income $243,529 $286,276 -0.1%
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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Governance

Voting Members
18
Independent Members
18
Employees
8
Volunteers
40

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
7
$78,513
Total Directors
18
$0
Key Employees
1
$78,513
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
STEPHEN W HOLMES DIRECTOR OF FOR PROFIT 40.00
Highest
$120,494 $14,181 $134,675
KRISTEN GULSON EXECUTIVE DIRECTOR 40.00
Officer Key Emp
$76,125 $2,388 $78,513
MATT SWALLOWS IMMEDIATE PAST PRESIDENT 1.00
Director
$0 $0 $0
MATT FELGENDREHER REGION DIRECTOR 2 1.00
Director
$0 $0 $0
CAM WINTERBURN REGION DIRECTOR 2 1.00
Director
$0 $0 $0
BATTLE BAGLEY III VP REGION II 1.00
Director
$0 $0 $0
ANDREW MADDOX REGION DIRECTOR 1.00
Director
$0 $0 $0
PAMELA WELLS REGION DIRECTOR 1 1.00
Director
$0 $0 $0
JOSH GIBBONS REGION DIRECTOR 3 1.00
Director
$0 $0 $0
STUART OAKS REGION DIRECTOR 3 1.00
Director
$0 $0 $0
CY YOUNG REGION DIRECTOR 1 1.00
Director
$0 $0 $0
CHIP PIPER REGION DIRECTOR 2 1.00
Director
$0 $0 $0
TIM GOSS REGION DIRECTOR 3 1.00
Director
$0 $0 $0
SAMANTHA ORGANEK YOUNG AGENTS DIRECTOR 1.00
Director
$0 $0 $0
BOBBY SAIN PRESIDENT-ELECT 2.00
Officer Director
$0 $0 $0
KYMBERLY CLEVENGER PRESIDENT 2.00
Officer Director
$0 $0 $0
JAMIE WILLIAMS SECRETARY 2.00
Officer Director
$0 $0 $0
JOHN MCINTURFF III NATIONAL DIRECTOR 2.00
Officer Director
$0 $0 $0
RICHARD WHITLEY TREASURER 2.00
Officer Director
$0 $0 $0
KEVIN OWNBY VP REGION 3 2.00
Officer 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 $2,150,492 $1,906,963 $6,099,941 $243,529
2023 $2,039,535 $1,753,259 $5,857,490 $286,276
2022 $1,912,197 $1,875,359 $5,399,869 $36,838
2021 $1,915,958 $1,618,018 $5,696,060 $297,940
2020 $1,986,892 $1,721,102 $5,789,407 $265,790
2019 $1,891,084 $2,368,058 $4,780,629 $-476,974
2018 $2,038,483 $2,175,154 $5,029,858 $-136,671
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