Educators Mutual Insurance Association of Utah (EIN 870189237) - 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

1935

Legal Domicile

Phone

8012627476

Tax Period

2024-01-01 to 2024-12-31

Educators Mutual Insurance Association of Utah, founded in 1935, is a mid-sized nonprofit that reported $62.4M in total revenue in fiscal year 2024. The organization ran a surplus of $16.5M, a strong 26% operating margin.

Mission

PROVIDE LIFE, ACCIDENT, & HEALTH INSURANCE TO EDUCATIONAL GROUPS.

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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 $57,729,696

Investment Income $4,149,815

Other Revenue $511,474

TOTAL REVENUE $62,390,985

Expense Breakdown

Grants Paid $1,000,663

Salaries & Benefits $9,079,970

Fundraising Expenses $0

Program Expenses $0

Other Expenses $8,085,247

TOTAL EXPENSES $45,889,175

Year-over-Year Comparison

	2024	2023	Change
Revenue	$62,390,985	$58,059,378	+0.1%
Expenses	$45,889,175	$54,321,705	-0.2%
Net Income	$16,501,810	$3,737,673	+3.4%

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

$2,006,734

Total Directors

$111,560

Key Employees

$1,654,863

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Bryan Sprague	Board Member	1.0	Director	$3,582	$40	$13,440
Clint Halverson	Board Member	1.0	Director	$2,620	$40	$9,840
Corey Callahan	Board Member	1.0	Director	$2,967	$40	$11,140
Jennifer Boehme	Board Member	1.0	Director	$3,288	$40	$12,340
Mike Francis	Board Member	1.0	Director	$2,941	$40	$11,040
Paul Gottfredson	Board Member	1.0	Director	$3,903	$40	$14,640
Randy Smart	Board Member	1.0	Director	$3,582	$40	$13,440
Scott Thornton	Board Member	1.0	Director	$3,261	$40	$12,240
Wendell Page Bennett	Board Member	1.0	Director	$3,582	$40	$13,440
David Lowther	Chief Operating Officer	11.0	Officer	$117,426	$83,402	$522,664
Michael Greenhalgh	Chief Financial Officer	11.0	Officer	$146,901	$95,809	$645,331
Steven Morrison	Chief Executive Officer	11.0	Officer	$194,902	$109,657	$838,739
Brandon Smart	Chief Legal Counsel/Compliance Officer	11.0	Key Emp	$82,443	$68,924	$377,324
Cindy Dunnavant	Senior VP - Sales and Marketing	11.0	Key Emp	$98,051	$50,968	$417,754
David Wood	Chief Actuary	11.0	Key Emp	$99,278	$75,035	$446,411
Joseph Campbell	Chief Information Officer	11.0	Key Emp	$89,886	$77,134	$413,374
Brandon Jorgensen	VP - Utah Sales	11.0	Highest	$76,846	$68,123	$355,586
Justin Bleazard	VP - Underwriting	11.0	Highest	$68,676	$66,131	$323,031
Mark Pingree	Actuary	11.0	Highest	$68,786	$66,373	$323,688
Roger Proctor	IT Development Manager	11.0	Highest	$70,493	$67,080	$330,776
Stephen Clay	Controller	11.0	Highest	$72,763	$68,267	$340,456

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	$62,390,985	$45,889,175	$239,538,875	$16,501,810
2023	$58,059,378	$54,321,705	$210,691,146	$3,737,673
2022	$52,240,394	$39,386,311	$200,849,633	$12,854,083
2021	$54,287,384	$40,530,090	$192,680,781	$13,757,294
2020	$81,626,178	$70,099,990	$189,850,376	$11,526,188
2019	$89,903,968	$75,840,736	$170,515,820	$14,063,232
2018	$93,334,890	$82,488,479	$159,285,953	$10,846,411

Educators Mutual Insurance Association of Utah