Pennsylvania Surplus Lines Association

Nonprofit profile at a glance

EIN
232209285
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Exton, PA, USA
Phone
6105941340
Rating
82
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$3,135,362
Expenses
$2,384,563
Assets
$9,454,254
Liabilities
$393,048

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

Leadership & pay

10 people listed

Executive titles in this filing

  • LINDA BOBRO (PRESIDENT)
  • MISSY GREENBERG (VICE PRESIDENT)
  • MARIE RUDERT (EXECUTIVE DIRECTOR)

Highest reported compensation

  • MARIE RUDERT (EXECUTIVE DIRECTOR): $227,552 total reported compensation
  • MEGAN STINE (CHIEF FINANCIAL OFFICER): $174,833 total reported compensation

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

Overview

Mission

Our mission is to serve Pennsylvania's insurance consumers, licensees, and regulators through fair and efficient support of the surplus lines insurance industry.

What it reported doing in 2024

The Pennsylvania surplus lines association was awarded a contract from the Pennsylvania insurance department (pid) to develop and maintain an electronic database of statistical data entered by the licensees. In addition, the psla serves as an advisory organization with pid for purposes of advising and consulting on matters concerning the surplus lines market in Pennsylvania. Psla provides training and education to all licensees. Psla is also a voluntary memebership for producers, licensees, insurance carriers and other interested parties concerned in gaining greater knowledge of the surplus lines marketplace. The association provided services to 3,074 agencies during 2024.

Operating model

Revenue model
Earned-program. 92% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 93% 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

STRONG - 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 reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 86
  • Accountability: 95
  • Sustainability: 72
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70.2%; rating input score 70
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 99.5%; rating input score 99; 39th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 23.9%; rating input score 80; 80th percentile among comparable filings
  • Total-asset coverage ratio: 3.96; rating input score 80; 80th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 73; 73rd percentile among comparable filings
  • Officer compensation ratio: 16.9%; rating input score 16; 16th percentile among comparable filings

Growth

  • Program expense growth: 9.2% per year; rating input score 100; 61st percentile among comparable filings
  • Revenue growth: 2.2% per year; rating input score 100; 22nd percentile among comparable filings
  • Asset growth: 7.6% per year; rating input score 100; 48th percentile among comparable filings

Details

  • Where the money goes: 70.2% of revenue deployed · 100% of spending went to programs
  • Governance: 8 of 8 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2.4M in reported program spending
  • Leadership: top reported pay $228K · 10 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $788K reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 4 filed schedules · includes grants and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 16/100.