Florida Surplus Lines Service Office Inc

Nonprofit profile at a glance

EIN
593501857
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Tallahassee, FL, USA
Phone
8502247676
Rating confidence
Limited

Official website

Reported finances

Revenue
$15,991,020
Expenses
$10,853,845
Assets
$64,108,912
Liabilities
$583,594

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

17 people listed

Executive titles in this filing

  • MARK SHEALY (EXECUTIVE DIRECTOR)

Highest reported compensation

  • MARK SHEALY (EXECUTIVE DIRECTOR): $474,775 total reported compensation
  • GEORGIE BARRETT (DEPUTY DIRECTOR): $275,964 total reported compensation
  • CHRISTINE MELLON (CFO): $271,739 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To serve and protect our customer's interest by promoting a reputable and modern insurance marketplace providing assistance and information regarding the Florida surplus lines marketplace.

What it reported doing in 2024

Assessing and collecting surplus lines tax for the state of Florida; assisting consumers with locating property & casualty insurance and other hard-to-place converages in the state of Florida; offering continuing education courses and training programs to insurance agents and professionals; operating the agent's compliance review program which is designed to promote credibility within the surplus lines market; providing access to information on all aspects of the surplus lines marketplace, including regulatory process, distributions systems and financial analysis.

Operating model

Revenue model
Earned-program. 84% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 77
  • Accountability: 100
  • Sustainability: 79
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 32.1%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 5.91; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 93; 93rd percentile among comparable filings
  • Officer compensation ratio: 20%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 6.2% per year; rating input score 100; 53rd percentile among comparable filings
  • Asset growth: 7.8% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 9 of 9 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $475K · 17 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 4 contractors listed · $4.2M reported
  • Consistency: 13 of 13 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Officer compensation ratio scored 4/100.