NEW MEXICO PROPERTY AND CASUALTY I… - 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

1975

Legal Domicile

Principal Officer

JUSTIN MARCUSSON

Phone

5052936600

Tax Period

2024-01-01 to 2024-12-31

NEW MEXICO PROPERTY AND CASUALTY INSURANCE GUARANTY ASSOCIATION, founded in 1975, is a community nonprofit that reported $5.8M in total revenue in fiscal year 2024. Revenue surged 150% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.9M, a strong 50% operating margin.

Mission

TO PAY COVERED CLAIMS OF INSOLVENT INSURANCE COMPANIES UNDER POLICIES COVERED BY THE NEW MEXICO PROPERTY AND CASUALTY INSURANCE GUARANTY ACT.

Program Service Accomplishments

Program 1

Expenses: $2,643,862 Revenue: $5,162,527

ADJUSTMENT AND PAYMENT OF CLAIMS OF INSOLVENT AND CASUALTY INSURANCE COMPANIES. 147 CLAIMS WERE ADJUSTED AND/OR PAID IN 2024.

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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 $5,162,527

Investment Income $605,027

Other Revenue $0

TOTAL REVENUE $5,767,554

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $2,643,862

Other Expenses $2,888,099

TOTAL EXPENSES $2,888,099

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,767,554	$2,306,033	+1.5%
Expenses	$2,888,099	$2,737,016	+0.1%
Net Income	$2,879,455	$-430,983	-7.7%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JUSTIN MARCUSSON	CHAIRMAN	7.00	Officer Director	$0	$0	$0
CHARLIE HARFORD	DIRECTOR	1.00	Director	$0	$0	$0
STEVEN HARRIS	DIRECTOR	1.00	Director	$0	$0	$0
JOSEPH MANERO	DIRECTOR	1.00	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	$5,767,554	$2,888,099	$24,410,315	$2,879,455
2023	$2,306,033	$2,737,016	$21,542,346	$-430,983
2022	$657,121	$2,666,300	$21,973,329	$-2,009,179
2021	$4,221,293	$3,749,181	$23,982,508	$472,112
2020	$1,957,548	$3,385,989	$23,510,396	$-1,428,441
2019	$10,150,730	$2,113,414	$24,938,837	$8,037,316
2018	$4,007,002	$2,418,068	$16,901,521	$1,588,934

NEW MEXICO PROPERTY AND CASUALTY INSURANCE GUARANTY ASSOCIATION