Florida Surplus Lines Service Office

Tallahassee, FL501(c)(6)Since 1998EIN 59-3501857Revenue $16.0M in FY2024

On file with the IRSfslso.com1441 Maclay Commerce Dr Ste 200, 32312-4147 · Tallahassee, FLTax-exempt since 0000

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Facilitating compliance & providing assistance & info. Regarding the fslso marketplace.

Run by 9 volunteers and 28 employees.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

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FY2024 · 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
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $3.1M a year · 27% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$1.7M
to officers and key staff · 15% of spending
Looks good: pay to officers and key staff is 15% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 5.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$584K
0.9% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$16.0M
+33% vs prior year
Spent
$10.9M
Net assets
$63.5M
By yearFY2020–FY2024
Revenue
$16.0M
FY2024▲ +33%
Tap a bar for its year
Revenue by fiscal year
FY2020$8.6M
FY2021$9.7M
FY2022$11.2M
FY2023$12.0M
FY2024$16.0M
Expenses
$10.9M
FY2024▲ +16%
Tap a bar for its year
Expenses by fiscal year
FY2020$7.1M
FY2021$7.7M
FY2022$7.2M
FY2023$9.3M
FY2024$10.9M
Net assets
$63.5M
FY2024▲ +14%
Tap a bar for its year
Net assets by fiscal year
FY2020$49.9M
FY2021$53.2M
FY2022$49.9M
FY2023$55.6M
FY2024$63.5M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in 0000.

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

Who runs it and what they're paid

17 people listed on the 990; $1.7M paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$382,800Pt VII · Sec A
$204,327Pt VII · Sec A
Deputy Director
$201,290Pt VII · Sec A
Director Ais
$196,221Pt VII · Sec A
Director of Information Technology
$183,921Pt VII · Sec A
SR Systems Engineer/DBA
$179,244Pt VII · Sec A
Director Slas Client Services
$178,944Pt VII · Sec A
Information Security Officer
$152,695Pt VII · Sec A

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

NameFY2024FY2023FY2022FY2021FY2020
Mark Shealy$382,800$299,818$134,421——
Gary Pullen—$246,299$322,933$320,541$320,228
Christine Mellon$204,327$99,467———
Georgie Barrett$201,290$174,384$155,260$146,676$142,079
Bryan Young$196,221$162,790$142,018$131,151$128,743
Cyrus Yazdanpanah$183,921—$126,823——
Daniel Mann$179,244$134,899$143,368$145,398$120,329
Tiffany Andersen$178,944————

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.

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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

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1 program · in their own filed words · FY2024
01

Assessing and collecting surplus lines tax for the state of florida; assisting consumers with locating property & casualty insurance and other hard-to-place converages in the state of florida; offering continuing education courses and training programs to insurance agents and professionals; operating the agent's compliance review program…

Pt IX · col B

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$16.0M
Ln 12
Fees for servicesLn 2g$14.3M
Investment incomeLn 3$1.1M
Other incomeLn 4–11$573K
Money outPt IX
$10.9M
Ln 25
Owns and owesPt X
$63.5M
net assets · Ln 32
Cash and savingsLn 1–2$5.1M
Total assetsLn 16$64.1M
LiabilitiesLn 26$584K
PeoplePt VI, VII
17
listed · VII A
PaidVII A8
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$14.3M
Investment incomeLn 3$1.1M
Other incomeLn 4–11$573K
Gains on assetsLn 7−$1.2M
Total revenueLn 12$16.0M
Assets in detailPt X, end of year
CashLn 1$25K
SavingsLn 2$5.1M
Cash and savings togetherLn 1–2$5.1M
InvestmentsLn 11–13$52.8M
Land, buildings, equipmentLn 10c$6.0M
Other assetsLn 15$246K
Total assetsLn 16$64.1M
LiabilitiesLn 26$584K
Net assetsLn 32$63.5M
OperationsPt I, VI
EmployeesI 528
VolunteersI 69
Fiscal year endsHeaderDecember
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 FY24End FY24
Cash and savingsLn 1–2$4.6M$5.1M
InvestmentsLn 11–13$47.2M$52.8M
Land, buildings, equipmentLn 10c$4.2M$6.0M
Total assetsLn 16$56.3M$64.1M
LiabilitiesLn 26$716K$584K
Net assetsLn 32$55.6M$63.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$1.0M
Other salaries and wagesLn 7$2.8M
Pension plan contributionsLn 8$248K
Other employee benefitsLn 9$705K
Payroll taxesLn 10$272K
Management feesLn 11a$257K
Legal feesLn 11b$226K
Accounting feesLn 11c$67K
Office expensesLn 13$140K
Information technologyLn 14$2.5M
OccupancyLn 16$102K
TravelLn 17$251K
Conferences, conventions and meetingsLn 19$14K
Depreciation, depletion and amortizationLn 22$445K
InsuranceLn 23$105K
Other expenses (24a–d)Ln 24$1.5M
All other expensesLn 24e$235K
Total functional expensesLn 25$10.9M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $16.0M$10.9M$5.1M$63.5M 990 PDF
FY2023 $12.0M$9.3M$2.7M$55.6M 990 PDF
FY2022 $11.2M$7.2M$4.0M$49.9M 990 PDF
FY2021 $9.7M$7.7M$2.1M$53.2M 990 PDF
FY2020 $8.6M$7.1M$1.5M$49.9M 990 PDF

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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 FY2024 990 (6 parts)
Part I · Summary $15,991,020 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $11,639,211$14,297,054
I-10 Investment incomePrior year −$925,309$1,121,403
I-11 Other revenuePrior year $1,325,279$572,563
I-12 Total revenuePrior year $12,039,181$15,991,020
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $4,195,660$5,067,566
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $5,125,537$5,786,279
I-18 Total expensesPrior year $9,321,197$10,853,845
I-19 Revenue less expensesPrior year $2,717,984$5,137,175
Part VI · Governance 9 of 9 board members independent, no flags
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
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 $15,991,020 across 6 lines filed
Lines not itemized here account for $93,429 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $9,581,496 · Unrelated business $4,715,558$14,297,054
VIII-3 Investment incomeExcluded from tax $2,290,440$2,290,440
VIII-6 Net rental income or lossExcluded from tax $37,195$37,195
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$1,169,037−$1,169,037
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $27,707 · Unrelated business $414,232$441,939
VIII-12 Total revenueRelated to mission $9,702,632 · Unrelated business $5,129,790 · Excluded from tax $1,158,598$15,991,020
Part IX · Statement of functional expenses $10,853,845 across 17 lines filed
IX-5 Pay of current officers, directors and key staff$1,019,836
IX-7 Other salaries and wages$2,822,896
IX-8 Pension plan contributions$247,636
IX-9 Other employee benefits$704,811
IX-10 Payroll taxes$272,387
IX-11a Management fees$256,950
IX-11b Legal fees$225,940
IX-11c Accounting fees$66,782
IX-13 Office expenses$140,210
IX-14 Information technology$2,492,404
IX-16 Occupancy$101,613
IX-17 Travel$251,351
IX-19 Conferences, conventions and meetings$14,335
IX-22 Depreciation, depletion and amortization$445,090
IX-23 Insurance$104,897
IX-24 Other expenses (24a–d)$1,452,178
IX-24e All other expenses$234,529
IX-25 Total functional expenses$10,853,845
Part X · Balance sheet $64,108,912 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $1,404,102$25,108
X-2 Savings and temporary cash investmentsStart of year $3,164,533$5,054,271
X-4 Accounts receivableStart of year $128,515$10,926
X-9 Prepaid expenses and deferred chargesStart of year $73,235$14,208
X-10c Land, buildings and equipment, netStart of year $4,208,212$5,987,460
X-11 Publicly traded securitiesStart of year $47,202,879$52,771,416
X-15 Other assetsStart of year $109,919$245,523
X-16 Total assetsStart of year $56,291,395$64,108,912
X-17 Accounts payable and accrued expensesStart of year $698,906$552,067
X-25 Other liabilitiesStart of year $17,063$31,527
X-26 Total liabilitiesStart of year $715,969$583,594
X-27 Net assets without donor restrictionsStart of year $55,575,426$63,525,318
X-32 Total net assets or fund balancesStart of year $55,575,426$63,525,318
X-33 Total liabilities and net assetsStart of year $56,291,395$64,108,912
Part XI · Reconciliation of net assets $63,525,318 net assets at year end
XI-1 Total revenue$15,991,020
XI-2 Total expenses$10,853,845
XI-3 Revenue less expenses$5,137,175
XI-4 Net assets at start of year$55,575,426
XI-5 Net unrealized gains (losses) on investments$2,812,717
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$63,525,318

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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