Minnesota Insurance and Financial Services Council

Nonprofit profile at a glance

EIN
261389716
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Deephaven, MN, USA
Phone
6513086853
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$491,349
Expenses
$491,041
Assets
$768,872
Liabilities
$437,337

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

Leadership & pay

9 people listed

Executive titles in this filing

  • HOLLAN ANGELA - ALLIANZ (CHAIR PRESIDENT)

People named in this filing

  • ALYSSA SCHLANDER - SECURIAN (MEMBER)
  • COURTNEY COLBY - THRIVENT (MEMBER)
  • MICHAEL AHLES - CATHOLIC UNIT (MEMBER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Advocate for Minnesota life, long-term care, annuities and financial services providers.

What it reported doing in 2024

Advocate for Minnesota life, long-term care, annuities and financial services providers at the state level of government.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 43
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.4%; rating input score 80
  • Program expense ratio: 80.6%; rating input score 81
  • 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: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 0.1%; rating input score 39; 39th percentile among comparable filings
  • Total-asset coverage ratio: 1.57; rating input score 53; 53rd percentile among comparable filings
  • Liabilities to assets ratio: 0.57; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -1.2% per year; rating input score 0; 26th percentile among comparable filings
  • Revenue growth: -0.2% per year; rating input score 0; 23rd percentile among comparable filings
  • Asset growth: 0.7% per year; rating input score 100; 28th percentile among comparable filings

Details

  • Where the money goes: 80.4% of revenue deployed · 80.6% of spending went to programs
  • Governance: 9 of 9 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $396K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Highest-paid contractors: 1 contractor listed · $344K reported
  • Consistency: 19 of 19 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 39/100.
  • Review — Sustainability: Total-asset coverage ratio scored 53/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.