Florida Surplus Lines Service Office
- Assets
- $56.3m
- Revenue
- $12.0m
- Investments
- $0.0
- Employees
- 34
- Location
- Tallahassee, FL
- Founding
- 00/0000
- Data as of
- 12/2023
- EIN
- 59-3501857
Organization Overview
Florida Surplus Lines Service Office is located in Tallahassee, FL. The organization was established in 0000. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2023, Florida Surplus Lines Service Office employed 34 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Florida Surplus Lines Service Office is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Florida Surplus Lines Service Office generated $12.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $9.3m during the year ending 12/2023. While expenses have increased by 5.0% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
FACILITATING COMPLIANCE & PROVIDING ASSISTANCE & INFO. REGARDING THE FSLSO MARKETPLACE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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 WHICH IS DESIGNED TO PROMOTE CREDIBILITY WITHIN THE SURPLUS LINES MARKET; PROVIDING ACCESS TO INFORMATION ON ALL ASPECTS OF THE SURPLUS LINES MARKETPLACE, INCLUDING REGULATORY PROCESS, DISTRIBUTIONS SYSTEMS AND FINANCIAL ANALYSIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tasha Carter Insurance Consumer Advocate | Trustee | 1 | $0 |
Virginia Clancy Director | Trustee | 1 | $0 |
Steve Clein Director | Trustee | 1 | $0 |
Kathy Colangelo Director | Trustee | 1 | $0 |
Steve Finver Director | Trustee | 1 | $0 |
Michael Franzese Secretary/treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Corelight Software Inc Software Development | 12/30/23 | $580,948 |
Hh Sterling Software Development | 12/30/23 | $217,546 |
Kikoda Llc Software Development | 12/30/23 | $197,850 |
Holland & Knight Llp Legal Representation | 12/30/23 | $475,986 |
Accenture Software Development | 12/30/23 | $1,198,689 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $11,639,211 |
| Investment income | $1,786,071 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $43,632 |
| Net Gain/Loss on Asset Sales | -$2,711,380 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $79,355 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,039,181 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $813,200 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,557,390 |
| Pension plan accruals and contributions | $155,833 |
| Other employee benefits | $431,128 |
| Payroll taxes | $238,109 |
| Fees for services: Management | $50,532 |
| Fees for services: Legal | $548,432 |
| Fees for services: Accounting | $78,260 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $141,989 |
| Information technology | $2,263,721 |
| Royalties | $0 |
| Occupancy | $91,776 |
| Travel | $160,593 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $613,815 |
| Insurance | $110,537 |
| All other expenses | $94,736 |
| Total functional expenses | $9,321,197 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,404,102 |
| Savings and temporary cash investments | $3,164,533 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $128,515 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $73,235 |
| Net Land, buildings, and equipment | $4,208,212 |
| Investments—publicly traded securities | $47,202,879 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $109,919 |
| Total assets | $56,291,395 |
| Accounts payable and accrued expenses | $698,906 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $17,063 |
| Total liabilities | $715,969 |
| Net assets without donor restrictions | $55,575,426 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $56,291,395 |