Professional Life Advisors Network Ltd

Nonprofit profile at a glance

EIN
352377968
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Charlotte, NC, USA
Phone
6102209051
Rating confidence
Limited
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$247,000
Expenses
$402,500
Assets
$540,272
Liabilities
$0

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

Leadership & pay

7 people listed

Executive titles in this filing

  • CAROL RANDO (EXECUTIVE DIRECTOR)

Highest reported compensation

  • CAROL RANDO (EXECUTIVE DIRECTOR): $329,000 total reported compensation

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

Overview

Mission

Professional life advisors network, ltd. ("plan") is an independentorganization whose aim is to encourage a high standard of excellencein the life insurance industry. Plan's activities consist of weeklywebinars and biannual on-site training programs aimed at helping its members be more effective in their day-to-day activities.

What it reported doing in 2024

Professional life advisors network (plan) is comprised of prominentlife brokerage agencies across the u.s. That are dedicated to and havedepth of experience in assisting financial advisors to develop andexecute the life insurance planning portion of their practice. Plan issharply focused on providing superior point-of-sale support to thefinancial advisors within national and regional wirehouses. Plan is arecognized leader in assisting a firm's financial advisors to identifylife insurance needs, determine solutions, provide case design andsales assistance, and complete the backroom requirements, thus makinglife insurance simple and, ultimately, enhancing and solidifyingcustomer relationships. Plan continually conducts training and educationsessions for members of its organization.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program 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

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 66
  • Accountability: 79
  • Sustainability: 26
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • 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: -63%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 1.34; rating input score 49; 49th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 81.7%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 0% per year; rating input score 100; 24th percentile among comparable filings
  • Asset growth: -3.3% per year; rating input score 0; 14th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 5 of 5 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $329K · 7 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $329K reported
  • Consistency: 8 of 8 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 10 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 4/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 49/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.