SURPLUS LINE ASSOCIATION OF WASHINGTON

EIN: 911011311

SEATTLE, WA

Total Revenue
$2,905,891
Total Expenses
$3,204,637
Total Assets
$6,321,810
Net Assets
$6,088,321
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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
1976
Legal Domicile
WA
Principal Officer
JOY ERVEN
Phone
2066823409
Tax Period
2024-01-01 to 2024-12-31

SURPLUS LINE ASSOCIATION OF WASHINGTON, founded in 1976, is a community nonprofit that reported $2.9M in total revenue in fiscal year 2024. Revenue grew 19% year-over-year, indicating healthy expansion. Expenses of $3.2M exceeded revenue, resulting in a 10% operating deficit.

Mission

ASSOCIATION OF SURPLUS LINE INSURANCE BROKERS

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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 $2,712,049
Investment Income $193,842
Other Revenue $0
TOTAL REVENUE $2,905,891

Expense Breakdown

Grants Paid $19,678
Salaries & Benefits $2,073,546
Fundraising Expenses $0
Other Expenses $1,111,413
TOTAL EXPENSES $3,204,637

Year-over-Year Comparison

2024 2023 Change
Revenue $2,905,891 $2,448,046 +0.2%
Expenses $3,204,637 $2,979,546 +0.1%
Net Income $-298,746 $-531,500 -0.4%
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

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Governance

Voting Members
10
Independent Members
10
Employees
18
Volunteers
10

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
4
$363,456
Total Directors
10
$7,455
Key Employees
0
$0
Highest Compensated
3
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
EDWARD BUKOVINSKY DIRECTOR 0.50
Director
$781 $0 $781
LINDA MUSSELMAN-GALANTI DIRECTOR 0.50
Director
$2,640 $0 $2,640
JEFFREY ABRAM PAST PRESIDENT 0.50
Director
$0 $0 $0
GRETCHEN ECHELBARGER SECRETARY-TREASURER 0.50
Officer Director
$2,240 $0 $2,240
CRISTI CARRINGTON VICE PRESIDENT 0.50
Officer Director
$0 $0 $0
CONNIE DIVELBISS PRESIDENT 0.50
Officer Director
$0 $0 $0
ANNE LUND DIRECTOR 0.50
Director
$0 $0 $0
ROY RANKIN DIRECTOR 0.50
Director
$0 $0 $0
KATY PETERSON DIRECTOR 0.50
Director
$0 $0 $0
RICHARD WHITE DIRECTOR 0.50
Director
$1,794 $0 $1,794
JOY ERVEN EXECUTIVE DIRECTOR 40.00
Officer
$297,247 $63,969 $361,216
AREZOO JANGI ACCOUNTING/OFFICE MANAGER 40.00
Highest
$166,750 $42,261 $209,011
ARIELLE ONEIL AVP EXAMINER 40.00
Highest
$100,243 $28,991 $129,234
JACQUELINE VASSALLO AVP MEMBERSHIP 40.00
Highest
$110,987 $31,243 $142,230
ROBERT HOPE FORMER EXECUTIVE DIRECTOR 40.00
$162,408 $37,197 $199,605
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
2025 No data No data No data No data
2024 $2,905,891 $3,204,637 $6,321,810 $-298,746
2023 $2,448,046 $2,979,546 $6,833,850 $-531,500
2022 $2,233,532 $2,247,799 $7,637,163 $-14,267
2021 $1,817,824 $2,146,692 $8,316,069 $-328,868
2020 $1,638,678 $1,999,954 $8,112,091 $-361,276
2019 $1,412,512 $2,141,574 $8,309,625 $-729,062
2018 $1,330,880 $2,015,758 $8,881,059 $-684,878
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