Illinois Fair Plan Association FY2023 filing

Not tax-deductible

Louisville, KY501(c)(6)EIN 36-2688813Revenue $3.4M in FY2023

On file with the IRSillinoisfairplan.comPo Box 436965, 40253-6965 · Louisville, KYTax-exempt since Jan 1970

This page gets seen. Tell your story. Claim this org.

To provide basic and affordable property insurance to applicants in Illinois (see schedule o)who are unable to purchase coverage through the standard insurance market.

$243K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 6
filings with a surplus
Average deficit $753K a year · 20% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Pay to officers and key staff
$243K
to officers and key staff · 4% of spending
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Fine: 1.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$3.5M
37% of total assets
Looks good: liabilities are 37% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.4M
+8% vs prior year
Spent
$6.3M
Net assets
$6.0M
By yearFY2020–FY2025
Revenue
$3.4M
FY2023▲ +8%
Tap a bar for its year
Revenue by fiscal year
FY2020$3.7M
FY2021$3.3M
FY2022$3.2M
FY2023$3.4M
FY2024$4.2M
FY2025$5.0M
Expenses
$6.3M
FY2023▲ +57%
Tap a bar for its year
Expenses by fiscal year
FY2020$5.2M
FY2021$3.7M
FY2022$4.0M
FY2023$6.3M
FY2024$4.2M
FY2025$3.9M
Net assets
$6.0M
FY2023▼ -15%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.5M
FY2021$6.3M
FY2022$7.0M
FY2023$6.0M
FY2024$6.3M
FY2025$6.4M

From the FY2023 Form 990 (year ending November 2023) · figures checked against the IRS filing · see the original

Give Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 1970.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

12 people listed on the 990; $243K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$208,934Pt VII · Sec A
$7,200Pt VII · Sec A
$7,200Pt VII · Sec A
$7,200Pt VII · Sec A
$5,600Pt VII · Sec A
$4,000Pt VII · Sec A
$3,200Pt VII · Sec A
Director
$0Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Joseph Hathaway$236,024$223,589$208,934$196,075$200,001$189,175
Dale Wheeler———$169,439$157,457$145,695
Snehal Pandya———$119,549$116,733$113,403
Paul Rogers$106,702$102,934————
Kenneth Devries$8,800$8,800$7,200$7,200$18,000$4,200
Charles Hill SR$8,800$8,000$7,200$7,200$18,000$4,800
Rebecca Korach Woan$10,400$7,200$7,200$8,000$3,200—
R Joy Aruguete$8,800$8,000$5,600$4,800$5,200$2,400

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Illinois Fair Plan Association executive salaries →

Are you one of these people? Claim this org to confirm your role

Something off? The org can add a note here. Claim this org to fix it.

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers affordable property insurance to Illinois residents denied coverage elsewhere.

Questions for Illinois Fair Plan Association

Tap to ask. Illinois Fair Plan Association sees how many people are interested.

Your first name shows with your question. Illinois Fair Plan Association answers here, for everyone.

Provided by the organization

Know this organization? Claim it to add your story

1 program · in their own filed words · FY2022
01

Under illinois state statue, the association provides fire, homeowners, extended coverage, vandalism, and malicious mischief insurance for state residents who have been unable to obtain these types of insurance in the voluntary market.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 10 grants · $90K · 2019–2024

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$3.4M
Ln 12
Fees for servicesLn 2g$3.2M
Investment incomeLn 3$167K
Money outPt IX
$6.3M
Ln 25
Owns and owesPt X
$6.0M
net assets · Ln 32
Cash and savingsLn 1–2$591K
Total assetsLn 16$9.5M
LiabilitiesLn 26$3.5M
PeoplePt VI, VII
12
listed · VII A
PaidVII A7
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$3.2M
Investment incomeLn 3$167K
Total revenueLn 12$3.4M
Assets in detailPt X, end of year
SavingsLn 2$591K
Cash and savings togetherLn 1–2$591K
InvestmentsLn 11–13$6.2M
Other assetsLn 15$2.2M
Total assetsLn 16$9.5M
LiabilitiesLn 26$3.5M
Net assetsLn 32$6.0M
OperationsPt I, VI
EmployeesI 511
VolunteersI 60
Fiscal year endsHeaderNovember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$3.5M$591K
InvestmentsLn 11–13$3.0M$6.2M
Total assetsLn 16$9.3M$9.5M
LiabilitiesLn 26$2.3M$3.5M
Net assetsLn 32$7.0M$6.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$15K
Pay of current officers, directors and key staffLn 5$397K
Other salaries and wagesLn 7$364K
Pension plan contributionsLn 8$178K
Other employee benefitsLn 9$114K
Payroll taxesLn 10$40K
Legal feesLn 11b$25K
Accounting feesLn 11c$20K
Investment management feesLn 11f$20K
Other fees for servicesLn 11g$267K
Advertising and promotionLn 12$2K
Office expensesLn 13$274K
Information technologyLn 14$2K
OccupancyLn 16$295K
TravelLn 17$6K
Depreciation, depletion and amortizationLn 22$27K
InsuranceLn 23$86K
Other expenses (24a–d)Ln 24$4.1M
All other expensesLn 24e$2K
Total functional expensesLn 25$6.3M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $5.0M$3.9M$1.1M$6.4M 990 PDF
FY2024 $4.2M$4.2M−$8K$6.3M 990 PDF
FY2023 Viewing $3.4M$6.3M−$2.9M$6.0M 990 PDF
FY2022 $3.2M$4.0M−$826K$7.0M 990 PDF
FY2021 $3.3M$3.7M−$414K$6.3M 990 PDF
FY2020 $3.7M$5.2M−$1.5M$3.5M 990 PDF

Want to add your own materials alongside these filings? Claim this org

Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $3,408,741 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $3,121,965$3,241,556
I-10 Investment incomePrior year $43,314$167,185
I-11 Other revenuePrior year $105$0
I-12 Total revenuePrior year $3,165,384$3,408,741
I-13 Grants and similar amounts paidPrior year $15,000$15,000
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $849,618$1,093,510
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $3,126,840$5,168,647
I-18 Total expensesPrior year $3,991,458$6,277,157
I-19 Revenue less expensesPrior year −$826,074−$2,868,416
Part VI · Governance 11 of 11 board members independent, no flags
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $3,408,741 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,241,556$3,241,556
VIII-3 Investment incomeExcluded from tax $167,185$167,185
VIII-12 Total revenueRelated to mission $3,241,556 · Unrelated business $0 · Excluded from tax $167,185$3,408,741
Part IX · Statement of functional expenses $6,277,157 across 19 lines filed
IX-1 Grants to domestic organizations$15,000
IX-5 Pay of current officers, directors and key staff$397,131
IX-7 Other salaries and wages$364,147
IX-8 Pension plan contributions$177,649
IX-9 Other employee benefits$114,248
IX-10 Payroll taxes$40,335
IX-11b Legal fees$24,567
IX-11c Accounting fees$19,550
IX-11f Investment management fees$20,068
IX-11g Other fees for services$267,129
IX-12 Advertising and promotion$1,656
IX-13 Office expenses$273,709
IX-14 Information technology$2,039
IX-16 Occupancy$294,858
IX-17 Travel$6,307
IX-22 Depreciation, depletion and amortization$27,102
IX-23 Insurance$85,922
IX-24 Other expenses (24a–d)$4,144,059
IX-24e All other expenses$1,681
IX-25 Total functional expenses$6,277,157
Part X · Balance sheet $9,509,849 assets, 10 lines filed
X-2 Savings and temporary cash investmentsStart of year $3,517,277$591,034
X-4 Accounts receivableStart of year $406,453$533,147
X-11 Publicly traded securitiesStart of year $3,044,767$6,199,824
X-15 Other assetsStart of year $1,930,987$2,185,844
X-16 Total assetsStart of year $9,317,772$9,509,849
X-17 Accounts payable and accrued expensesStart of year $204,425$125,253
X-25 Other liabilitiesStart of year $2,084,966$3,386,277
X-26 Total liabilitiesStart of year $2,289,391$3,511,530
X-32 Total net assets or fund balancesStart of year $7,028,381$5,998,319
X-33 Total liabilities and net assetsStart of year $9,317,772$9,509,849
Part XI · Reconciliation of net assets $5,998,319 net assets at year end
XI-1 Total revenue$3,408,741
XI-2 Total expenses$6,277,157
XI-3 Revenue less expenses−$2,868,416
XI-4 Net assets at start of year$7,028,381
XI-5 Net unrealized gains (losses) on investments−$1,308
XI-9 Other changes in net assets$1,839,662
XI-10 Net assets at end of year$5,998,319

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.