SURPLUS LINE ASSOCIATION OF CO INC

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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

1982

Legal Domicile

Principal Officer

JOHN WETHEY

Phone

3036814924

Tax Period

2024-01-01 to 2024-12-31

SURPLUS LINE ASSOCIATION OF CO INC, founded in 1982, is a micro nonprofit that reported $30K in total revenue in fiscal year 2024. Revenue decreased 17% compared to the prior year. Expenses of $155K exceeded revenue, resulting in a 421% operating deficit.

Mission

TO SUPPORT SOUND PRACTICES FOR SURPLUS LINES INSURANCE, AND PROVIDE EDUCATION TO INSURANCE PRODUCERS, CONSUMERS, AND THE STUDENTS ATTENDING THE UNIVERSITY OF COLORADO.

Program Service Accomplishments

Program 1

THE ASSOCIATION PROMOTES, SUPPORTS AND ENCOURAGES COMPLIANCE WITH THE LAWS OF THE STATE OF COLORADO, AND THE RULES AND REGULATIONS OF THE INSURANCE COMMISSIONER OF THE STATE OF COLORADO RELATIVE TO SURPLUS LINE INSURANCE. THE ASSOCIATION PROVIDES EDUCATION TO INSURANCE PRODUCERS, CONSUMERS AND STUDENTS.

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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 $0

Investment Income $29,713

Other Revenue $0

TOTAL REVENUE $29,713

Expense Breakdown

Grants Paid $125,000

Salaries & Benefits $16,772

Fundraising Expenses $0

Other Expenses $13,008

TOTAL EXPENSES $154,780

Year-over-Year Comparison

	2024	2023	Change
Revenue	$29,713	$35,893	-0.2%
Expenses	$154,780	$157,484	0.0%
Net Income	$-125,067	$-121,591	+0.0%

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

N/A

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

$15,550

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN WETHEY	Executive Dir.	3.00	Officer	$13,150	$2,400	$15,550
RICHARD THOMAS	Director	0.25	Director	$0	$0	$0
TROY SIBELIUS	President	0.25	Officer Director	$0	$0	$0
MICHELLE CLARK	Vice President	0.25	Officer Director	$0	$0	$0
BRAD AVERILL	Treasurer	0.25	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	$29,713	$154,780	$622,461	$-125,067
2023	$35,893	$157,484	$734,237	$-121,591
2022	$15,888	$291,003	$839,711	$-275,115
2021	$43,865	$20,263	$1,191,246	$23,602
2020	$51,377	$21,964	$1,185,583	$29,413
2019	$-17,449	$62,060	$1,138,264	$-79,509