Mississippi Surplus Lines Association (EIN 640885758) - 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

1997

Legal Domicile

Phone

6017131111

Tax Period

2024-01-01 to 2024-12-31

Mississippi Surplus Lines Association, founded in 1997, is a community nonprofit that reported $3.3M in total revenue in fiscal year 2024. Revenue grew 19% year-over-year, indicating healthy expansion. The organization ran a surplus of $2.3M, a strong 69% operating margin.

Mission

TO ASSIST THE MISSISSIPPI INSURANCE DEPT. IN THE OVERSIGHT OF THE SURPLUS LINES MARKET AND ENCOURAGE COMPLIANCE BY SURPLUS LINES AGENTS WITH THE SURPLUS LINES LAWS OF MISSISSIPPI.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $2,692,301

Investment Income $628,253

Other Revenue $0

TOTAL REVENUE $3,320,554

Expense Breakdown

Grants Paid $0

Salaries & Benefits $459,503

Fundraising Expenses $0

Program Expenses $0

Other Expenses $558,135

TOTAL EXPENSES $1,017,638

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,320,554	$2,783,567	+0.2%
Expenses	$1,017,638	$1,014,556	+0.0%
Net Income	$2,302,916	$1,769,011	+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

$128,750

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRISTOPHER MATHISON	CHAIRMAN	1.0	Officer Director	$0	$0	$0
LINDA TRIFONE	TREASURER	1.0	Officer Director	$0	$0	$0
MATTHEW KOURY	Vice Chairman	1.0	Officer Director	$0	$0	$0
PRESTON GOUGH III	Secretary	1.0	Officer Director	$0	$0	$0
DAVID PHILLIPS	DIRECTOR	1.0	Director	$0	$0	$0
Mike Leach	Director	1.0	Director	$0	$0	$0
MIMS MCLENNAN	Director	1.0	Director	$0	$0	$0
ROGER ELFERT	DIRECTOR	1.0	Director	$0	$0	$0
TRUITT TAYLOR	DIRECTOR	1.0	Director	$0	$0	$0
Julie McLemore	Executive Director	40.0	Officer	$125,000	$3,750	$128,750

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	$3,320,554	$1,017,638	$10,268,917	$2,302,916
2023	$2,783,567	$1,014,556	$12,842,612	$1,769,011
2022	$2,592,835	$789,976	$10,301,399	$1,802,859
2021	$1,996,666	$720,643	$9,264,368	$1,276,023
2020	$1,803,984	$731,737	$7,589,156	$1,072,247
2019	$1,792,252	$793,899	$7,668,706	$998,353
2018	$1,536,075	$726,225	$6,301,563	$809,850

Mississippi Surplus Lines Association