Trusted Choice Inc

Nonprofit profile at a glance

EIN
542052195
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Alexandria, VA, USA
Phone
7036834422
Rating confidence
Limited
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$3,967,828
Expenses
$2,596,915
Assets
$5,167,882
Liabilities
$1,463,776

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

Leadership & pay

13 people listed

Executive titles in this filing

  • CHARLES SYMINGTON (PRESIDENT)
  • KEVIN BRANDT (VICE PRESIDENT)

Highest reported compensation

  • CHARLES SYMINGTON (PRESIDENT): $1,153,522 total reported compensation
  • EUGENE S COCKE (TREASURER): $432,634 total reported compensation
  • SCOTT D KNEELAND (CHIEF COUNSEL/SECRETARY): $327,796 total reported compensation

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

Overview

Mission

Trusted choice is a unifying brand created to help educate consumers about the benefits of using an independent insurance agent or broker when buying insurance.

What it reported doing in 2024

Trusted choice is the national marketing brand created exclusively for big "i" members to help consumers understand the value that an independent agent offers. This is not a market access program, but a brand that is designed to highlight the strengths of independent insurance agents: choice, customization, and advocacy.

Operating model

Revenue model
Earned-program. 99% 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: 63
  • Accountability: 84
  • Sustainability: 64
  • Growth: 20

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 88.9%; rating input score 89; 3rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • 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: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 88.9%; rating input score 89; 20th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 34.6%; rating input score 87; 87th percentile among comparable filings
  • Total-asset coverage ratio: 1.99; rating input score 62; 62nd percentile among comparable filings
  • Liabilities to assets ratio: 0.28; rating input score 36; 36th percentile among comparable filings
  • Officer compensation ratio: 24%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -2.2% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: 0.2% per year; rating input score 100; 13th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 8 of 9 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $1.2M · 13 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $133K reported
  • Consistency: 11 of 12 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 15 filed money-flow records
  • Related organizations: 16 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 9/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 36/100.