Civic Intelligence

Mississippi Surplus Lines Association

EIN 64-0885758 • 501(c)6 • Flowood, MS

Profile

To assist the insurance commissioner of mississippi with the regulation of "surplus lines" insurance contracts and to encourage compliance by surplus lines agents and insurers with the surplus lines laws of the state of mississippi.

504 Keywood Circle Suite BFlowood, MS 39232

www.msla.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

11th percentile

0.01x

Higher debt load relative to assets than 11% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

11th percentile

0.04x

Higher debt load relative to revenue than 11% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Source year 2024

Net Margin

98th percentile

69%

Higher net margin than 98% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

13th percentile

$128,750

Higher top officer pay than 13% of similar nonprofits.

Top officer pay equals 3.9% of source-year revenue.

501(c)6 • $10M-$25M nonprofits • Source year 2024

Asset Growth

3rd percentile

-20%

Faster asset growth than 3% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

79th percentile

19%

Faster revenue growth than 79% of similar nonprofits.

501(c)6 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Down

$10,268,917

Down $2,573,695 (-20%) from 2023

Liabilities

Down

$134,967

Down $86,094 (-39%) from 2023

Net Assets

Down

$10,133,950

Down $2,487,601 (-20%) from 2023

Revenue

Up

$3,320,554

Up $536,987 (+19%) from 2023

Expenses

Up

$1,017,638

Up $3,082 (+0.3%) from 2023

Net Income

Up

$2,302,916

Up $533,905 (+30%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$15M$10M$5.0M$0Assets 2010: $4,116,248Liabilities 2010: $30,285Net Assets 2010: $4,085,9632010Assets 2011: $4,664,671Liabilities 2011: $38,194Net Assets 2011: $4,626,4772011Assets 2012: $5,150,368Liabilities 2012: $39,557Net Assets 2012: $5,110,8112012Assets 2013: $5,674,173Liabilities 2013: $30,338Net Assets 2013: $5,643,8352013Assets 2014: $6,421,789Liabilities 2014: $24,610Net Assets 2014: $6,397,1792014Assets 2015: $6,137,346Liabilities 2015: $2,041,949Net Assets 2015: $4,095,3972015Assets 2016: $4,868,092Liabilities 2016: $33,766Net Assets 2016: $4,834,3262016Assets 2017: $5,769,719Liabilities 2017: $38,333Net Assets 2017: $5,731,3862017Assets 2018: $6,301,563Liabilities 2018: $47,688Net Assets 2018: $6,253,8752018Assets 2019: $7,668,706Liabilities 2019: $61,287Net Assets 2019: $7,607,4192019Assets 2020: $7,589,156Liabilities 2020: $64,375Net Assets 2020: $7,524,7812020Assets 2021: $9,264,368Liabilities 2021: $63,005Net Assets 2021: $9,201,3632021Assets 2022: $10,301,399Liabilities 2022: $227,487Net Assets 2022: $10,073,9122022Assets 2023: $12,842,612Liabilities 2023: $221,061Net Assets 2023: $12,621,5512023Assets 2024: $10,268,917Liabilities 2024: $134,967Net Assets 2024: $10,133,9502024

Highlighted filing

2024

Assets$10,268,917
Liabilities$134,967
Net Assets$10,133,950

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0Expenses 2010: $771,9302010Expenses 2011: $780,5652011Expenses 2012: $826,3162012Revenue 2013: $1,295,305Expenses 2013: $786,830Net Income 2013: $508,4752013Revenue 2014: $1,491,905Expenses 2014: $669,263Net Income 2014: $822,6422014Revenue 2015: $1,471,189Expenses 2015: $636,729Net Income 2015: $834,4602015Revenue 2016: $1,140,770Expenses 2016: $671,158Net Income 2016: $469,6122016Revenue 2017: $1,521,170Expenses 2017: $689,475Net Income 2017: $831,6952017Revenue 2018: $1,536,075Expenses 2018: $726,225Net Income 2018: $809,8502018Revenue 2019: $1,792,252Expenses 2019: $793,899Net Income 2019: $998,3532019Revenue 2020: $1,803,984Expenses 2020: $731,737Net Income 2020: $1,072,2472020Revenue 2021: $1,996,666Expenses 2021: $720,643Net Income 2021: $1,276,0232021Revenue 2022: $2,592,835Expenses 2022: $789,976Net Income 2022: $1,802,8592022Revenue 2023: $2,783,567Expenses 2023: $1,014,556Net Income 2023: $1,769,0112023Revenue 2024: $3,320,554Expenses 2024: $1,017,638Net Income 2024: $2,302,9162024

Highlighted filing

2024

Revenue$3,320,554
Expenses$1,017,638
Net Income$2,302,916

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$10.3$0.13$10.1$3.32$1.02$2.30
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.8$0.22$12.6$2.78$1.01$1.77
2022Detailed filing. Detailed filing data is available for this year.$10.3$0.23$10.1$2.59$0.79$1.80
2021Detailed filing. Detailed filing data is available for this year.$9.26$0.06$9.20$2.00$0.72$1.28
2020Detailed filing. Detailed filing data is available for this year.$7.59$0.06$7.52$1.80$0.73$1.07
2019Detailed filing. Detailed filing data is available for this year.$7.67$0.06$7.61$1.79$0.79$1.00
2018Detailed filing. Detailed filing data is available for this year.$6.30$0.05$6.25$1.54$0.73$0.81
2017Detailed filing. Detailed filing data is available for this year.$5.77$0.04$5.73$1.52$0.69$0.83
2016Detailed filing. Detailed filing data is available for this year.$4.87$0.03$4.83$1.14$0.67$0.47
2015Detailed filing. Detailed filing data is available for this year.$6.14$2.04$4.10$1.47$0.64$0.83
2014Detailed filing. Detailed filing data is available for this year.$6.42$0.02$6.40$1.49$0.67$0.82
2013Detailed filing. Detailed filing data is available for this year.$5.67$0.03$5.64$1.30$0.79$0.51
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.15$0.04$5.11$0.83
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.66$0.04$4.63$0.78
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.12$0.03$4.09$0.77
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Aug 22, 2025
Return Version
2024v5.1
Gross Receipts
$15,098,784
Mission and Program Overview

Mission

To assist the insurance commissioner of mississippi with the regulation of "surplus lines" insurance contracts and to encourage compliance by surplus lines agents and insurers with the surplus lines laws of the state of mississippi.

To assist the mississippi insurance dept. In the oversight of the surplus lines market and encourage compliance by surplus lines agents with the surplus lines laws of mississippi.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$9,705,099$7,697,434▼ $2,007,665
Savings and Temporary Cash Investments$1,470,239$1,021,218▼ $449,021
Land, Buildings, and Equipment, Net$938,308$806,829▼ $131,479
Accounts Receivable$581,729$626,641▲ $44,912
Intangible Assets$132,362$101,952▼ $30,410
Prepaid Expenses and Deferred Charges$12,275$12,243▼ $32
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Loans From Officers Directors$0$0→ $0
Total Assets$12,842,612$10,268,917▼ $2,573,695
Other Assets Total$2,600$2,600→ $0
Liabilities
Other Liabilities$132,361$101,952▼ $30,409
Accounts Payable and Accrued Expenses$88,700$33,015▼ $55,685
Total Liabilities$221,061$134,967▼ $86,094
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$12,621,551$10,133,950▼ $2,487,601
Total Net Assets Fund Balance$12,621,551$10,133,950▼ $2,487,601
Total Liabilities and Net Assets / Fund Balance$12,842,612$10,268,917▼ $2,573,695

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$806,829$3,582,840$4,389,669
Equipment$0$22,095$22,095
Leasehold Improvements$0$12,457$12,457
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Julie McLemoreExecutive DirectorFT$125,000$3,750$128,750

Board Members and Trustees

NameTitle
Christopher MathisonChairman
Matthew KouryVice Chairman
David PhillipsDirector
Mike LeachDirector
Mims MclennanDirector
Roger ElfertDirector
Truitt TaylorDirector
Preston Gough IiiSecretary
Linda TrifoneTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,692,301
Investment Income
$628,253
Other Revenue
$0
Change in Net Assets
$2,302,916

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,287,118
Revenue Not Reported on Financial Statements
$33,436
Revenue Not Reported on Form 990
$209,483
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$3,496,601
Total Revenue per Form 990
$3,320,554
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$558,135
Salaries, Compensation, and Employee Benefits$459,503
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$295,748
Other Salaries and Wages---$256,940
Current Officers, Directors, Trustees, and Key Employees---$128,750
Information Technology---$60,299
Fees for Services Accounting---$44,672
Occupancy---$39,300
Other Employee Benefits---$38,318
Fees for Service Investment Mgmnt Fees---$33,436
Office Expenses---$33,294
Payroll Taxes---$31,180
Fees for Services Legal---$26,842
Travel---$10,918
Insurance---$8,092
Pension Plan Contributions---$4,315
Conferences and Meetings---$3,305
Fees for Services Other---$519
Other Expenses---$-2,001
Total Functional Expenses$0$0$0$1,017,638

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,017,638
Expenses per Audited Statements$984,202
Total Expenses per Audited Statements$984,202
Expenses Not Reported on Financial Statements$33,436
Expenses Not Reported on Form 990$0
Other Expense Adjustments$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal Income Taxes$101,952
Operating Lease Liability-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 4 Significant changes to organizational documents

The Organization's By-laws were amended in 2024 to change the quorum requirement for membership meetings/actions in accordance with the provisions of Miss. Code Ann. Section 79-11-217 (Rev. 2013).

Form 990, Part VI, Line 6 Classes of members or stockholders

Any individual licensed as a surplus lines agent under section 83-21-21 of mississippi law shall be deemed a member of the association. Each member must register with the association by completing the member information form.

Form 990, Part VI, Line 7A Members or stockholders electing members of governing body

Each member is entitled to one vote when electing members of the governing body.

Form 990, Part VI, Line 7B Decisions requiring approval by members or stockholders

Each member of the organization is entitled to one vote in all matters pursuant to miss. Code ann. Sections 79-11-269, 79-11-281, 79-11-301, 79-11-315, 79-11-323, 79-11-331, 79-11-333 or 79-11-335, as amended.

Form 990, Part VI, Line 11B Review of form 990 by governing body

An electronic copy of form 990 is provided to each member of the organization's governing body for review prior to filing with the irs.

Form 990, Part VI, Line 12C Conflict of interest policy

Upon election and/or hiring, officers and directors are required to disclose any potential or actual conflicts of interest. Disclosure is also required throughout the year whenever conflicts of interest may occur.

Form 990, Part VI, Line 15A Process to establish compensation of top management official

The organization's governing body determined the executive officer's compensation using comparative data. This process is documented in the organization's minutes.

Form 990, Part VI, Line 15B Process to establish compensation of other employees

The organization's governing body determined the executive officer's compensation using comparative data. This process is documented in the organization's minutes.

Form 990, Part VI, Line 19 Required documents available to the public

The organization's governing documents, conflict of interest policy, and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Mississippi Surplus Lines Association
EIN
64-0885758
Phone
6017131111
Address
504 KEYWOOD CIRCLE SUITE B, FLOWOOD, MS 39232

Signing Officer

Name
Julie Mclemore
Title
Executive Director
Signed
2025-08-22
Discuss with paid preparer
Yes

Organization Details

Formed
1997
Legal Domicile
Ms
Voting Board Members
9
Independent Board Members
9
Employees
6
Volunteers
9

Preparer

Firm
Forvis Mazars LLP
Address
1400 Meadowbrook Road Suite 300, Jackson, MS 39211-6349
Preparer
Peyton Parks
Phone
6019486700
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9 Other changes in net assets or fund balances

Transfer to Mississippi INSURANCE DEPARTMENT BY ACTS OF LEGISLATION, PURSUANT TO MISSISSIPPI CODE SECTION 83-21-21. - -5000000;

Financial Statement Notes

Schedule D, Part X, Line 2

Management has evaluated the company's income tax positions under the guidance included in asc 740. Based on their review, management has not identified any material uncertain tax positions to be recorded or disclosed in the financial statements.

Raw XML AppendixShowing 400 of 436 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/MissionDesc0TO ASSIST THE INSURANCE COMMISSIONER OF MISSISSIPPI WITH THE REGULATION OF "SURPLUS LINES" INSURANCE CONTRACTS AND TO ENCOURAGE COMPLIANCE BY SURPLUS LINES AGENTS AND INSURERS WITH THE SURPLUS LINES LAWS OF THE STATE OF MISSISSIPPI.
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IRS990/OtherExpensesGrp/Desc0MEMBERSHIPS - REGISTRATIONS
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IRS990/OtherExpensesGrp/Desc2BAD DEBT EXPENSE
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IRS990/OtherExpensesGrp/TotalAmt170
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt012243
IRS990/PrincipalOfcrBusinessName/BusinessNameLine1Txt0JULIE MCLEMORE
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IRS990ScheduleD/InvestmentExpensesNotIncldAmt033436
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
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IRS990ScheduleD/NetUnrealizedGainsInvstAmt0209483
IRS990ScheduleD/OtherExpensesIncludedAmt00
IRS990ScheduleD/OtherExpensesNotIncludedAmt00
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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt03582840
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt04389669
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0101952
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal Income Taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1OPERATING LEASE LIABILITY
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IRS990ScheduleD/RevenueSubtotalAmt03287118
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT HAS EVALUATED THE COMPANY'S INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule D, Part X, Line 2
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IRS990ScheduleD/TotalLiabilityAmt0101952
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IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt02024-06-25
IRS990ScheduleN/DispositionOfAssetsDetail/EIN0646000786
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt05000000
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt0115
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt0COST
IRS990ScheduleN/DispositionOfAssetsDetail/PersonNm0MISSISSIPPI INSURANCE DEPARTMENT
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt0PO BOX 79
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm0JACKSON
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd0MS
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd0392050079
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Organization's By-laws were amended in 2024 to change the quorum requirement for membership meetings/actions in accordance with the provisions of Miss. Code Ann. Section 79-11-217 (Rev. 2013).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ANY INDIVIDUAL LICENSED AS A SURPLUS LINES AGENT UNDER SECTION 83-21-21 OF MISSISSIPPI LAW SHALL BE DEEMED A MEMBER OF THE ASSOCIATION. EACH MEMBER MUST REGISTER WITH THE ASSOCIATION BY COMPLETING THE MEMBER INFORMATION FORM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH MEMBER IS ENTITLED TO ONE VOTE WHEN ELECTING MEMBERS OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3EACH MEMBER OF THE ORGANIZATION IS ENTITLED TO ONE VOTE IN ALL MATTERS PURSUANT TO MISS. CODE ANN. SECTIONS 79-11-269, 79-11-281, 79-11-301, 79-11-315, 79-11-323, 79-11-331, 79-11-333 OR 79-11-335, AS AMENDED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4AN ELECTRONIC COPY OF FORM 990 IS PROVIDED TO EACH MEMBER OF THE ORGANIZATION'S GOVERNING BODY FOR REVIEW PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5UPON ELECTION AND/OR HIRING, OFFICERS AND DIRECTORS ARE REQUIRED TO DISCLOSE ANY POTENTIAL OR ACTUAL CONFLICTS OF INTEREST. DISCLOSURE IS ALSO REQUIRED THROUGHOUT THE YEAR WHENEVER CONFLICTS OF INTEREST MAY OCCUR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION'S GOVERNING BODY DETERMINED THE EXECUTIVE OFFICER'S COMPENSATION USING COMPARATIVE DATA. THIS PROCESS IS DOCUMENTED IN THE ORGANIZATION'S MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE ORGANIZATION'S GOVERNING BODY DETERMINED THE EXECUTIVE OFFICER'S COMPENSATION USING COMPARATIVE DATA. THIS PROCESS IS DOCUMENTED IN THE ORGANIZATION'S MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9Transfer to Mississippi INSURANCE DEPARTMENT BY ACTS OF LEGISLATION, PURSUANT TO MISSISSIPPI CODE SECTION 83-21-21. - -5000000;
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 4 Significant changes to organizational documents
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 6 Classes of members or stockholders
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 7a Members or stockholders electing members of governing body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 11b Review of form 990 by governing body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 12c Conflict of interest policy
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Line 15a Process to establish compensation of top management official
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part VI, Line 15b Process to establish compensation of other employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990, Part VI, Line 19 Required documents available to the public
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Form 990, Part XI, Line 9 Other changes in net assets or fund balances
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