Civic Intelligence

Nevada Surplus Lines Foundation

990 • Fiscal year 2023 • EIN 84-2487325

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 13, 2024

Organization ProfileN/A
6490 S Mccaran Blvd 39Reno, NV 89509

(775) 826-7898

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

5th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

5th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

8th percentile

-41%

Higher net margin than 8% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

19th percentile

-3.0%

Faster asset growth than 19% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

87th percentile

51%

Faster revenue growth than 87% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets5th percentile

Assets

Down

$10,337,124

Down $316,004 (-3.0%) from 2022

Net Assets

Down

$10,337,124

Down $316,004 (-3.0%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / Revenue5th percentileNet Margin8th percentile

Revenue

Up

$3,666,821

Up $1,242,234 (+51%) from 2022

Expenses

Up

$5,175,519

Up $4,830,440 (+1400%) from 2022

Net Income

Down

-$1,508,698

Down $3,588,206 (-173%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth19th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$15M$10M$5.0M$0Assets 2019: $4,158,667Liabilities 2019: $0Net Assets 2019: $4,158,6672019Assets 2020: $6,858,495Liabilities 2020: $0Net Assets 2020: $6,858,4952020Assets 2021: $10,017,031Liabilities 2021: $0Net Assets 2021: $10,017,0312021Assets 2022: $10,653,128Liabilities 2022: $0Net Assets 2022: $10,653,1282022Assets 2023: $10,337,124Liabilities 2023: $0Net Assets 2023: $10,337,1242023Assets 2024: $14,789,165Liabilities 2024: $0Net Assets 2024: $14,789,1652024

Highlighted filing

2023

Assets$10,337,124
Liabilities$0
Net Assets$10,337,124
Open 2023 Filing

Operations Trend

Revenue Growth87th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2019: $4,064,844Expenses 2019: $0Net Income 2019: $4,064,8442019Revenue 2020: $2,607,531Expenses 2020: $285,950Net Income 2020: $2,321,5812020Revenue 2021: $2,652,534Expenses 2021: $350,332Net Income 2021: $2,302,2022021Revenue 2022: $2,424,587Expenses 2022: $345,079Net Income 2022: $2,079,5082022Revenue 2023: $3,666,821Expenses 2023: $5,175,519Net Income 2023: -$1,508,6982023Revenue 2024: $4,046,379Expenses 2024: $503,954Net Income 2024: $3,542,4252024

Highlighted filing

2023

Revenue$3,666,821
Expenses$5,175,519
Net Income-$1,508,698
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 13, 2024
Return Version
2023v5.0
Gross Receipts
$9,413,978
Mission and Program Overview

Mission

The foundation is organized exclusively for charitable, religious, educational scientific and literary objectives and purposes within the meaning of section 501(c)3 of the internal revenue code of 1986, as amended (the "code").

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$10,535,606$10,003,825▼ $531,781
Cash and Non-Interest-Bearing Accounts$113,534$333,299▲ $219,765
Investments Other Securities$3,988--
Total Assets$10,653,128$10,337,124▼ $316,004
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$10,653,128$10,337,124▼ $316,004
Total Net Assets Fund Balance$10,653,128$10,337,124▼ $316,004
Total Liabilities and Net Assets / Fund Balance$10,653,128$10,337,124▼ $316,004
Compensation and Service Providers
Top Officer Pay14th percentile

Board Members and Trustees

NameTitle
Greg MckinleyChairman
Nick RossiVice-chairma
Francie StockingDirector
John DrakulichDirector
Justin ManningDirector
Quincy BranchDirector
Steve WilkinsDirector
Thomas F KerestesiDirector
Cindy FleischerSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$3,338,000
Program Service Revenue
$0
Investment Income
$328,821
Other Revenue
$0
All Other Contributions
$3,338,000
Change in Net Assets
$-1,508,698

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,633,970
Revenue Not Reported on Financial Statements
$32,851
Revenue Not Reported on Form 990
$1,225,545
Total Revenue per Audited Statements
$4,859,515
Total Revenue per Form 990
$3,666,821
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$5,144,760
Other Expenses$30,759
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$5,144,760--$5,144,760
Fees for Services Accounting$19,829$3,499-$23,328
Fees for Services Other$7,131--$7,131
Fees for Services Legal$285$15-$300
Total Functional Expenses$5,172,005$3,514$0$5,175,519

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,175,519
Total Expenses per Audited Statements$5,175,519
Total Expenses per Form 990$5,175,519
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Unlv FoundationLas Vegas, NVGovPublic Education$5,144,760
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
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
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“The organzation financials records are maintained by employees of nevada surplus lines association.”

Form 990, Page 6, Part VI, Line 11B

“A discussion draft of form 990 is emailed to the entire board to respond with comments, questions, and approval.”

Form 990, Page 6, Part VI, Line 12C

“The conflict of interest policy is discussed annually at a board meeting. For each interest disclosed to the chairman of the board of directors, the chairman will determin whether to: (a) take no action; (b) assure full disclosure to the board of directors and other individuals covered by this policy; (c) ask the person to recuse from participation in related discussions or decisions within the foundation; or (d) ask the person to resign from his or her postion in the foundation.”

Form 990, Page 6, Part VI, Line 19

“The organization can make governing documents available upon written request.”

Filing and Contact Details

Filer

Filer Name
Nevada Surplus Lines Foundation
EIN
84-2487325
Phone
7758267898
Address
6490 S MCCARAN BLVD 39, RENO, NV 89509

Signing Officer

Name
Nick Rossi
Title
Vice-chairman
Phone
7758267898
Signed
2024-11-13

Organization Details

Principal Officer
Nick Rossi
Formed
2019
Legal Domicile
Nv
Voting Board Members
9
Independent Board Members
9
Employees
0

Preparer

Firm
Jackson & Jackson Cpas Ltd
Address
1755 E PLUMB LN STE 100, RENO, NV 89502
Preparer
Mark a Jackson CPA
Phone
7753605910
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The foundation is organized exclusively for charitable, religious, educational scientific and literary objectives and purposes within the meaning of section 501(c)3 of the internal revenue code of 1986, as amended (the "code").”

Form 990, Page 2, Part III, Line 4A

“The foundation will provide funds for programs and activities to support achievement and skill development within the insurance industry. The foundation will consider donations and grants to individuals and organizations that will encourage interest and employment opportunities within the business community. The goal of the foundation is to perpetuate employment and interest within the insurance industry. The recipients must present a request for funds in writing, including a detailed description of how the funds will be used, timelines if applicable, and agree to provide status reports if requested. The foundation board of directors will review the requests and make a determination based on the amount of the request, if the entity or individual will be using the funds for education or charitable reasons, and to support achievement and skill development in the insurance industry.”

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION IS ORGANIZED EXCLUSIVELY FOR CHARITABLE, RELIGIOUS, EDUCATIONAL SCIENTIFIC AND LITERARY OBJECTIVES AND PURPOSES WITHIN THE MEANING OF SECTION 501(C)3 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE").
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION WILL PROVIDE FUNDS FOR PROGRAMS AND ACTIVITIES TO SUPPORT ACHIEVEMENT AND SKILL DEVELOPMENT WITHIN THE INSURANCE INDUSTRY. THE FOUNDATION WILL CONSIDER DONATIONS AND GRANTS TO INDIVIDUALS AND ORGANIZATIONS THAT WILL ENCOURAGE INTEREST AND EMPLOYMENT OPPORTUNITIES WITHIN THE BUSINESS COMMUNITY. THE GOAL OF THE FOUNDATION IS TO PERPETUATE EMPLOYMENT AND INTEREST WITHIN THE INSURANCE INDUSTRY. THE RECIPIENTS MUST PRESENT A REQUEST FOR FUNDS IN WRITING, INCLUDING A DETAILED DESCRIPTION OF HOW THE FUNDS WILL BE USED, TIMELINES IF APPLICABLE, AND AGREE TO PROVIDE STATUS REPORTS IF REQUESTED. THE FOUNDATION BOARD OF DIRECTORS WILL REVIEW THE REQUESTS AND MAKE A DETERMINATION BASED ON THE AMOUNT OF THE REQUEST, IF THE ENTITY OR INDIVIDUAL WILL BE USING THE FUNDS FOR EDUCATION OR CHARITABLE REASONS, AND TO SUPPORT ACHIEVEMENT AND SKILL DEVELOPMENT IN THE INSURANCE INDUSTRY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANZATION FINANCIALS RECORDS ARE MAINTAINED BY EMPLOYEES OF NEVADA SURPLUS LINES ASSOCIATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A DISCUSSION DRAFT OF FORM 990 IS EMAILED TO THE ENTIRE BOARD TO RESPOND WITH COMMENTS, QUESTIONS, AND APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE CONFLICT OF INTEREST POLICY IS DISCUSSED ANNUALLY AT A BOARD MEETING. FOR EACH INTEREST DISCLOSED TO THE CHAIRMAN OF THE BOARD OF DIRECTORS, THE CHAIRMAN WILL DETERMIN WHETHER TO: (A) TAKE NO ACTION; (B) ASSURE FULL DISCLOSURE TO THE BOARD OF DIRECTORS AND OTHER INDIVIDUALS COVERED BY THIS POLICY; (C) ASK THE PERSON TO RECUSE FROM PARTICIPATION IN RELATED DISCUSSIONS OR DECISIONS WITHIN THE FOUNDATION; OR (D) ASK THE PERSON TO RESIGN FROM HIS OR HER POSTION IN THE FOUNDATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION CAN MAKE GOVERNING DOCUMENTS AVAILABLE UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
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ReturnHeader/BuildTS02024-10-15 13:58:12Z
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ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MARK A JACKSON CPA
ReturnHeader/ReturnTs02024-11-15T17:21:49-05:00
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ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,337,124
Liabilities
$0
Net assets
$10,337,124
Revenue
$3,666,821
Expenses
$5,175,519
Net income
-$1,508,698
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$14.8$0.00$14.8$4.05$0.50$3.54
2023Detailed filing. Detailed filing data is available for this year.$10.3$0.00$10.3$3.67$5.18$1.51
2022Detailed filing. Detailed filing data is available for this year.$10.7$0.00$10.7$2.42$0.35$2.08
2021Detailed filing. Detailed filing data is available for this year.$10.0$0.00$10.0$2.65$0.35$2.30
2020Detailed filing. Detailed filing data is available for this year.$6.86$0.00$6.86$2.61$0.29$2.32
2019Detailed filing. Detailed filing data is available for this year.$4.16$0.00$4.16$4.06$0.00$4.06