Georgia Associates of Insurance and Financial Underwriters Inc

Nonprofit profile at a glance

EIN
580964223
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-EZ 2023, Form 990-N 2022
Location
Atlanta, GA, USA
Phone
7703636479
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$252,050
Expenses
$294,750
Assets
$184,103
Liabilities
$1,986

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

Leadership & pay

6 people listed

Executive titles in this filing

  • FRED GLASS (PRESIDENT EL)
  • RODERICK LIPTROT (PRESIDENT)

Highest reported compensation

  • TREY KELLY (EXECUTIVE DI): $111,800 total reported compensation

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

Overview

Mission

Dissemination of information for the insurance industry.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Some filing-based governance responses are negative or unanswered and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 57
  • Transparency & Controls: 90
  • Accountability: 64
  • Sustainability: 22
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.3%; rating input score 68
  • Program expense ratio: 57.6%; rating input score 58
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • 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; 63rd percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -16.9%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 0.62; rating input score 29; 29th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 45; 45th percentile among comparable filings
  • Officer compensation ratio: 37.9%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -1.2% per year; rating input score 0; 19th percentile among comparable filings
  • Asset growth: 1.4% per year; rating input score 100; 31st percentile among comparable filings

Details

  • Where the money goes: 68.3% of revenue deployed · 57.6% of spending went to programs
  • Governance: 529 of 529 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $112K · 6 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 13 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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 — Accountability: Governance controls: 5 of 6 not reported.
  • Review — Financial Efficiency: Program expense ratio scored 58/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 16/100.
  • High — Sustainability: Total-asset coverage ratio scored 29/100.
  • High — Sustainability: Officer compensation ratio scored 7/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 45/100.