Nevada Surplus Lines Foundation

Nonprofit profile at a glance

EIN
842487325
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Reno, NV, USA
Phone
7758267898
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$4,046,379
Expenses
$503,954
Assets
$14,789,165
Liabilities
$0

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

Leadership & pay

9 people listed

People named in this filing

  • GREG MCKINLEY (CHAIRMAN)
  • NICK ROSSI (VICE-CHAIRMA)
  • CINDY FLEISCHER (SECRETARY/TR)

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

The foundation is organized exclusively for charitable, religious, educational scientific and literary objectives and purposes within the meaning of section 501(c)3 of the internal revenue code of 1986, as amended (the "code").

What it reported doing in 2024

The foundation will provide funds for programs and activities to support achievement and skill development within the insurance industry. The foundation will consider donations and grants to individuals and organizations that will encourage interest and employment opportunities within the business community. The goal of the foundation is to perpetuate employment and interest within the insurance industry. The recipients must present a request for funds in writing, including a detailed description of how the funds will be used, timelines if applicable, and agree to provide status reports if requested. The foundation board of directors will review the requests and make a determination based on the amount of the request, if the entity or individual will be using the funds for education or charitable reasons, and to support achievement and skill development in the insurance industry.

Operating model

Revenue model
Donor-supported. 89% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 96% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some related-organization disclosures are missing.

Rating breakdown

  • Financial Efficiency: 45
  • Transparency & Controls: 93
  • Accountability: 94
  • Sustainability: 97
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 22.4%; rating input score 22
  • Program expense ratio: 98.6%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Scored; rating input score 0

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 87.5%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 29.35; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 37.5% per year; rating input score 100; 95th percentile among comparable filings
  • Revenue growth: 1.9% per year; rating input score 100; 20th percentile among comparable filings
  • Asset growth: 20.2% per year; rating input score 100; 84th percentile among comparable filings

Details

  • Where the money goes: 22.4% of revenue deployed · 98.6% of spending went to programs
  • Governance: 9 of 9 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $497K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 5 filed schedules · includes grants and related organizations
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 5 filed related-organization links
  • 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 — Financial Efficiency: Mission deployment rate scored 22/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.