Police and Firemens Insurance Association

Nonprofit profile at a glance

EIN
350586820
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Carmel, IN, USA
Phone
3175811913
Rating
27
Verdict
REVIEW
Rating confidence
Moderate

Official website

Reported finances

Revenue
$53,007,365
Expenses
$40,579,137
Assets
$308,334,243
Liabilities
$194,358,760

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

Leadership & pay

20 people listed

Executive titles in this filing

  • John Murphy (President, Director)
  • Bradd Roembke (Sr Vice President/President, Director)
  • Danette Williams (Vice President of Operations)

Highest reported compensation

  • John Murphy (President, Director): $352,363 total reported compensation
  • Bradd Roembke (Sr Vice President/President, Director): $312,875 total reported compensation
  • Danette Williams (Vice President of Operations): $299,426 total reported compensation

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

Overview

Mission

Provide 100 scholarships annually to dependents of members, orphan scholarship and assistance programs, family fraternal benefits and memorial benefits. Provide life insurance, accident and health insurance and investment programs to members of law enforcement and the fire service and their families.

Operating model

Revenue model
Other-operating. 80% of the money available for current operations came from other operating 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

REVIEW - Revenue comfortably covers expenses and revenue has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 48
  • Accountability: 32
  • Sustainability: 73
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 6th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 0%; rating input score 0; 6th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 4th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 23.4%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 7.6; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0.63; rating input score 26; 26th percentile among comparable filings
  • Officer compensation ratio: 5.5%; rating input score 14; 14th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 3.1% per year; rating input score 100; 23rd percentile among comparable filings
  • Asset growth: 7.2% per year; rating input score 100; 52nd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 0 of 15 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $532K in reported program spending
  • Leadership: top reported pay $352K · 20 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $637K reported
  • Consistency: 13 of 15 current checks pass · 2 findings to review
  • Schedules: 4 filed schedules · includes grants and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 20 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.
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 14/100.
  • High — Sustainability: Liabilities to assets ratio scored 26/100.